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Bkrell Knowledge Costs Business Link


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Knowledge Opportunity Costs

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Bkrell Knowledge Costs Business Link

  1. 1. Knowledge Opportunity Costs Barbara Krell Enterprising HR
  2. 2. Changing organizational models  Industrialized  Knowledge Based  Bureaucratic  Policies and guidelines rather  Management by control and than rules rule based decisions  Management by facilitation and  Limited access and input to enabling employee information empowerment  Centralized decision making  Transparency and flow of information  Maximize efficiencies at unit level  Input and feedback for decision making  Holistic systems thinking approach Barb Krell
  3. 3. Knowledge At Work  “Knowledge is a fluid mix of framed experiences, values, contextual information, and expert insight that provides a framework for evaluating and incorporating new experiences and information. It originates and is applied in the minds of knowers. In organizations, it often becomes embedded not only in documents or repositories but also in organizational routines, processes, practices and norms.”  (Working Knowledge, Davenport and Prusak) Barb Krell
  4. 4. Cost of Poor Knowledge  Cost of Rework due to Errors  Cost of Duplication of Efforts  Cost of Poor Decisions  Cost of Missed Opportunities There is a penalty for ignorance. We are paying through the nose. W. Edwards Deming Barb Krell
  5. 5.  Butler Group reports up to 10% of staff costs are lost, because employees can't find the right information to do their jobs.  Barb Krell
  6. 6. Knowledge Management Is…  Communicating across disciplines  An integrated set of systematic processes by which knowledge needed for an organization to succeed is created, captured, shared, renewed, and leveraged. Barb Krell
  7. 7. Using what we know… KM means using the ideas and experiences of employees, customers and suppliers to improve the organization’s performance Knowledge Management The Change Agenda  Michael Skapinker, Management Editor, Financial Times Barb Krell
  8. 8. Leveraging of Knowledge Organizational Learning Application of new shared knowledge to increase capability of the organization Knowledge Management Strategies to turn intellectual capital to explicit knowledge in a form that can be shared and capitalized on. Organizational Growth Intellectual Capital Knowledge assets of organization – resides at an individual level (human capital), in tools and processes (structural capital) and in social networks (relational capital). Barb Krell
  9. 9. Knowledge in Process What knowledge is critical to the business? How do we measure and reward the development and use of knowledge? What industry standards do we benchmark against? How does the use of technology enhance the decision-making process? Barb Krell
  10. 10. Knowledge Diagnostic Impact Issue Analysis Why? Identify Core Strategic Measures of Processes Priorities Success For Each Core Process Identify Knowledge Determine Key Capital Knowledge Elements and Enablers Assumptions Knowledge Flow Focus for Improvement © Mindwealth 2006 Barb Krell
  11. 11. Request for Negotiate terms Deliver product/service Close project Evaluate and Assess service/support engagement impact IC Assessment Knowledge Relationships – Experience of Centre Expertise of consultant Feedback forms Follow-up with client Capital networks of member to who is delivering completed at Informal, ongoing relationships negotiate the service end of interaction with which realistic terms Expertise of Centre staff program/ stakeholders individuals and draw on to manage the consulting brings to their appropriate engagement Client accepting association resources final report with the centre Staff interaction and “IP” of the centre in informal defined processes Centre’s reputation networks and resource and branding materials/templates Knowledge Website Funding agreements Org assessment process Feedback forms in Survey Monkey Flow enablers Maximizer Contract agreements Shared drive of templates database Success stories, (Supporting Reports of prior Print resource materials Final report presentations by Tools/ engagements Billings and clients of Processes/ Consultant database collection successful Structures Contracts for training outcomes Barb Krell
  12. 12. KM Process Improvement Model Information Acquisition Individual Learning People Establish a shared vision Knowledge Build a guiding coalition Sharing & Communicate Group and Integration Build community through formal Community and informal networks Learning Technology Problem & Process Design and implement KM Opportunity Develop strategy – prioritize – Detection infrastructure focus resources Generate Leverage existing systems opportunity and manage risks Facilitate short-term wins Knowledge in Use Barb Krell
  13. 13. Questions?
  14. 14. Barb Krell