Strategic knowledge management
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This document discusses strategic knowledge management and how companies can leverage data to gain competitive advantage. It recommends conducting an audit to identify strategic objectives, knowledge gaps, existing processes, and opportunities to better leverage knowledge. Companies should also create a "knowledge map" linking people, processes, places, and knowledge. The document then presents three approaches for integrating planned changes: using a toolkit to improve a key process, creating communities of practice, or launching a campaign around a specific challenge. The goal is to convert raw data into strategic knowledge that fuels ongoing competitive advantages through a virtuous cycle.
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Strategic knowledge management
- 2. Introduction Convert Information Knowledge Competitive Advantage Strategy The Ideal: Create a virtuous circle of strategic knowledge management. Aim: To convert raw data into strategic advantage.
- 3. Example: Google Google Raw data. 1. Public. 2. Private. PageRank Algorithm Relevant search results. Relevant Ads 1. Raw Data Publicly 2. Knowledge 3. Competitive Advantage 4. Strategic Advantage. 5. Fresh raw data private to Google.
- 4. How to leverage your data! Where to begin. And where to go next.
- 5. How to leverage your data! Step 1: « Know Thyself » Strategy Identify strategic objectives and knowledge gaps Processes Identify existing processes and opportunities to leverage knowledge for strategic advantage. Organisation Create a ‘knowledge map’ by linking people, places, processes and knowledge. Culture Don’t assume people will share knowledge freely. Participation needs to be rewarded.
- 6. How to leverage your data! Step 2: «Integrate change » Approaches to change. Description The specific initiative A toolkit is used to make an impact on a key organisational process. Eg improve sales forecasting by using a Delphi approach to surface tacit knowledge Community of Practice. Connect individuals and groups with common interests to create collaborative environments The ‘Campaign’ Approach. Mobilise action by set ting up a campaign to meet a specific challenge. 3 broad optional approaches to integrating planned changes
- 8. Question: What information do companies need in today’s business enviroment? Answer: • Information that can be converted into knowledge. • That can in turn be converted in competitive and strategic advantage. • Ideally in a virtuous circle. Convert Information Knowledge Competitive Advantage Strategy
- 9. Question: How can a company best leverage information to build competitive advantage? Answer: • Audit of strategy, processes, organisation and culture to identify opportunities for improvements • Choose an appropriate approach to implement change.
Editor's Notes
- 1. Information is simply raw data and stats. 2. It is converted into knowledge when it is analysed and synthesised in context. Eg in context of business strategy. 3. This can be converted into an fresh understanding of opportunities for competitive advantage. 4. This can be converted in a choice of strategy that will give sustainable competitive advantage.5. New and valuable information is gathered as the strategy is implemented….which refreshes the cycle.Google Indexes the web.Google applies PageRank algorithm to organise the most relevant results.Better more relevant results give Google a market advantage over competitors.Expertise in delivering relevant results means Google can make money deliver relevant small ads.Observing which search results are clicked and which ads are clicked delivers Google a new wave of information to be converted into knowledge.
- Google Indexes the web. On the first cycle they gather publicly available raw data.Google applies PageRank algorithm to organise the most relevant results. Data is converted into knowledge.Better more relevant results returned to users give Google a market advantage over competitors. Expertise in delivering relevant results means Google can make money deliver relevant small ads.Public usage of Google search generates loads of fresh data directly to Google. Observing which search results are clicked and which ads are clicked delivers Google a new wave of privately held and valuable information to be converted into further knowledge.