Overview of Knowledge Management
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Knowledge Management is the one imperative that holds the key to creating, sustaining and tapping competitive advantage as well as to nurture Innovation and create a 'desired future.' The presentation covers both theoretical as well as empirical aspects of the topic. Knowledge Strategy and the various strategic options available to an organization are highlighted. The presentation wounds up with caveats, success ingredients and inherent risk factors of KM.
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Overview of Knowledge Management
- 1. KNOWLEDGE MANAGEMENT TRIMESTER 6: PGDM 2011-13 By FIRDAUS KHAN Assoc. Professor (Finance & Corp. Training) ICBM-SBE, AP, India firdaus@icbm.ac.in4/30/2013
- 2. Data Overload? Or Knowledge Revolution? • Every day, we create 2.5 quintillion bytes of data — so much that 90% of the data in the world today has been created in the last two years alone! • 1.8 zettabytes is being created & replicated this year alone. It would require 57.5 billion 32 GB iPads to store & will be worth about $34.4 trillion - equivalent to the GDP of USA, Japan, China, Germany, France, UK & Italy combined!! firdaus@icbm.ac.in
- 3. firdaus@icbm.ac.in Knowledge Shared = (Knowledge)2
- 4. HOW HAS THE MODERN WORK ENVIRONMENT CHANGED? firdaus@icbm.ac.in
- 5. Traditional Work • Data oriented • Internal • Centralized • Hierarchy • Structured, deterministic • 1 position, 1 person • Fixed work station • Things • Coordination of access, integrity & control of redundancy Knowledge Work • Communication oriented • Cooperation, Coopetition, Networks • Decentralized • Network • Unstructured, ad-hoc workflows • Multiple roles per person • Mobile, virtual, multiple workstations, telecommuting • Flows • Synchronization, info sharing, search & retrieval firdaus@icbm.ac.in Criteria • Orientation • Focus • Command • Structure • Process • Role • Workspace • Location of value • Data Handling
- 6. DIMENSIONS OF KNOWLEDGE WORK firdaus@icbm.ac.in
- 8. Data, Information & Knowledge • Data refers to facts, which have not been structured & have not been interpreted, therefore have no meaning. • Information is relevant, structured and meaningful data. There is a sender & a receiver. It can be stored on media such as paper, computer, audio tape, etc. • Knowledge is factual information acquired through personal experience. It has a purpose & intent but is emergent & socially constructed. It exists only in people’s heads. firdaus@icbm.ac.in
- 9. FROM DATA TO WISDOM Wisdom Knowledge Information Data firdaus@icbm.ac.in MEANING CONTEXT INSIGHT
- 10. TYPES OF KNOWLEDGE TACIT KNOWLEDGE EXPLICIT KNOWLEDGE EMBRAINED KNOWLEDGE EMBODIED KNOWLEDGE ENCULTURED KNOWLEDGE EMBEDDED KNOWLEDGE ENCODED KNOWLEDGE firdaus@icbm.ac.in
- 13. KM DRIVERS KM Fragmentation of Knowledge Need for Speed – Cycle Time Reduction Knowledge Attrition Globalization & Knowledge Merging Content Management E-Learning firdaus@icbm.ac.in
- 14. KM IS INTER-DISCIPLINARY • Cognitive science • Relational and object databases, • Expert systems, Artificial Intelligence, • Computer-supported collaborative work (groupware), object-oriented information modeling • Library and information science • Technical writing, Document management • Decision support systems, Simulation • Semantic networks • Organizational science, performance support systems • Electronic publishing technology, hypertext, internet firdaus@icbm.ac.in
- 15. KNOWLEDGE MANAGEMENT • Knowledge Management can be defined as a systematic process that creates, captures, shares, and analyzes knowledge in ways that directly improve organizational performance. • It comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable the adoption of insights and experiences. • It is the ability to get the right information to the right people at the right time, and in the right place, so that an organization can be operated smoothly and efficiently. firdaus@icbm.ac.in
- 16. COMPONENTS OF KM CYCLE firdaus@icbm.ac.in
- 18. KM LIFE CYCLE • Knowledge is acquired or captured using intranets, extranets, groupware, web conferencing, and document management systems. • An organizational memory is formed by refining, organizing, and storing knowledge using structured repositories such as data warehouses. • Knowledge is distributed through education, training programs, automated knowledge based systems, expert networks. • Knowledge is applied or leveraged for further learning and innovation via mining of the organizational memory and the application of expert systems such as decision support systems. firdaus@icbm.ac.in
- 19. TOOLS USED IN EACH PHASE OF KM firdaus@icbm.ac.in
- 20. OUTCOMES OF KM • Foster innovation and organizational learning by encouraging the free flow of ideas • Improve decision making • Improve customer service by streamlining response time • Boost revenues by getting products and services to market faster • Enhance employee retention rates by recognizing the value of employees' knowledge and rewarding them for it • Streamline operations and reduce costs by eliminating redundant or unnecessary processes firdaus@icbm.ac.in
- 21. OUTCOMES OF KM (contd.) • Achieving shorter new product development cycles • Leveraging the expertise of people across the organization • Increasing network connectivity between internal and external individuals • Managing business environments and allowing employees to obtain relevant insights and ideas appropriate to their work • Managing intellectual capital and intellectual assets in the workforce (such as the expertise and know-how possessed by key individuals) firdaus@icbm.ac.in
- 22. KM IN PRACTICE • Large revenue gains & efficiency improvements have been recorded by many major companies. • Ford Motor Company accelerated its concept- to-production time from 36 months to 24 months. • Dow Chemical Company saved $40 million a year in the re-use of patents. • Chase Manhattan Bank used CRM KM initiatives to increase its annual revenue by 15% • Pfizer credits KM practices for discovering the hidden benefits of the Viagra drug. firdaus@icbm.ac.in
- 24. “An organization’s capacity to improve existing skills and learn new ones is the most defensible competitive advantage of all.” - C.K. Prahlad firdaus@icbm.ac.in
- 26. KNOWLEDGE STRATEGY firdaus@icbm.ac.in A Knowledge Strategy refers to the planned balancing of an organization’s knowledge resources & capabilities with the knowledge required for providing products and services superior to those of its competitors. – (Zack 1999b,131)
- 27. WHAT STRATEGIC OPTIONS DOES A FIRM HAVE IN TERMS OF A KNOWLEDGE STRATEGY? firdaus@icbm.ac.in
- 28. Key Aspects of a Knowledge Strategy • Which business areas should be the focus? • Which type of knowledge should be captured? • Who is the target group? • Which business process will the knowledge strategy be applied to? • Will the orientation be more human or technological? firdaus@icbm.ac.in
- 29. KM Strategy Focusing On Key Business Areas Improve organization- wide handling of knowledge CRM R & D Value Chain Mgt. Geographical Expansion Post Merger Integration Virtual Organization firdaus@icbm.ac.in
- 30. KM Strategy Based on Type of Knowledge Degree of Increase in Knowledge: Primary Source of Knowledge Speed of Learning Knowledge Base Type of Knowledge to Focus on Orientation • Exploitation • Exploration • Internal • External • Fast • Slow • Broad • Narrow • Tacit • Explicit • Human • Technological firdaus@icbm.ac.in
- 31. KM Strategy Based On Target Group Employee Rank Employee Manager Executive Employee Life Cycle New recruits Retirees “To-be- Promoted” Types Organizational Scope Core Group Organization Organization & Partners Unlimited firdaus@icbm.ac.in
- 32. KM Strategy Based on Business Process Which business process to target? Simple vs. Highly Complex Processes Mgt. vs. Core vs. Service Processes One process vs. Few vs. All processes firdaus@icbm.ac.in
- 34. firdaus@icbm.ac.in EMPIRICAL ASPECTS - Strategic KM Initiatives Undertaken by Organizations
- 35. firdaus@icbm.ac.in • Expert Directories • Skill Databases • Yellow Pages based on Knowledge Areas Map Sources of Internal Expertise • Separate Unit headed by CKO • Roles for Knowledge related tasks • (K. Broker/Engineer, Subject Matter Expert) Establish New Knowledge Roles • Greater number of mobile workers • Disrupted social connections in a work community Create a Virtual Work Environment • People working on same problem areas • People having complementary knowledge Create Networks of Knowledge Workers • Balancing Push & Pull of Knowledge • Connect seekers & providers of Knowledge Support knowledge Flows In an Organization
- 36. firdaus@icbm.ac.in • Making Knowledge available at points of action • Spread the good word to as many in the network Transfer of Knowledge & Best Practices • Pull approach, not push. No micro-managing • Each responsible for renewing & sharing own knowledge assets Personal Responsibility for Knowledge • Capture knowledge about customers • Provide customer-centric solutions, increase customer loyalty Customer Focused Knowledge • Basic & Applied R&D • Employee Motivation & Insights for Innovation Innovation & Knowledge Creation • Enterprise level management of patents, technology, practices, etc • Valuating, safekeeping, marketing of K. assets Intellectual Asset Management Strategy
- 37. OPERATIONAL RISKS IN A KNOWLEDGE STR. DEPENDENCY LIMITED QUALITY INSUFFICIENT KNOWLEDGE TRANSFER LOSS OF KNOWLEDGE ASSETS KNOWLEDGE RISKS firdaus@icbm.ac.in
- 38. Barriers to a Knowledge Strategy • Lack of motivation, ignorance or skilled incompetence of knowledge provider • Lack of motivation or insufficient learning/retentive capacity or role – constrained learning by knowledge seeker • Insufficient context or ambiguity of causality of transferred knowledge • Infrastructural and cultural inadequacies or hindrances firdaus@icbm.ac.in
- 39. Factors Essential for the Success of a Knowledge Strategy • Holistic, integrated & standardized approach • Knowledge Oriented Culture • Management support • Clear economic benefits • Exact vision & language • Effective aids for motivation • Appropriate process orientation • ICT & organizational infrastructure • Stable knowledge structures • Continuous participation of employees firdaus@icbm.ac.in
- 40. “Knowledge has to be improved, challenged, and increased constantly, or it vanishes.” – Peter Drucker firdaus@icbm.ac.in
- 41. Sources • http://www.unc.edu/~sunnyliu/inls258/Introd uction_to_Knowledge_Management.html • Knowledge Management Systems - Ronald Maier (3rd Edition, Springer) • Mashable.com firdaus@icbm.ac.in