Knowledge management business plan

Februar von Yasaman FarashahianAmin Abbasi Business enterprises typically are valued at the net tangible assets recorded on their books. Svieby classified intellectual capital into three categories: The managing and measuring of intellectual capital are widely discussed in commercial applications. Many other firms apply similar frameworks in managing their intellectual capital, for example:

Knowledge management business plan

Importance of Knowledge Management Systems Every day, your business receives a huge amount of data and information. While some of this data may not be important at all, other pieces of information or knowledge could knowledge management business plan crucial.

It is this data or information that can be utilized to take critical decisions and enable certain employees to improve their overall knowledge and skills.

This is why, it is very important to store the information and make it accessible for the future course of the business.

This is where the importance of knowledge management systems enters the picture. It is the knowledge management systems that enable you to store the data, manage it and distribute it among the workplace whenever needed.

The following are some of the points of importance of these systems: Creates knowledge and learning-based organizations — One of the main benefits of having a knowledge management system is that it helps to make learning a habit and routine for your organization and creates a kind of a culture at your workplace which is inclined towards self-assessment as well as self-improvement.

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The knowledge gained through the process of knowledge management systems makes use of experience to improve processes and streamline operations. Makes way for innovation and workplace changes — Managing knowledge regularly and actively through knowledge management systems also makes way for innovation and cultural change.

It enables workplace employees to express their ideas and use creativity to perform tasks. Makes way for better decision making — The huge database of information and knowledge is nothing less than an asset or wealth for your organization. Storing and then processing of this data can help you make some important decisions in an easier manner.

When your manager or other employees have access to knowledge through a knowledge management system, they are more capable of making much more informed choices.

Without the application of KM systems, your organization may be wasting resources and time on the re-invention of knowledge and spending a great deal of money and time on location or identification of difficult to find information.

Thanks to the technological advancements as well as the availability of high-speed networks, your organization has a great opportunity to gather, store, distribute and utilize knowledge in a way you would have never imagined.

There are many software products, processes and procedures that can enable the effective implementation of knowledge.

knowledge management business plan

The following are the steps that you can take to implement knowledge management systems throughout the workplace.

Identify the various business issues The first step is to identify the various business issues by conducting an internal analysis of your firm. You must thus try to evaluate or assess the variety and quantity of the information that your business has stored in databases, on the web, as well as that which employees possess through their personal experiences and knowledge.

Efforts must be made to do a cost-benefit analysisevaluate the complexity of system structures, get to know training costs, security issues, updating costs and analyze existing business practices.

Running away from the fear of the huge amounts of information present to be stored or managed is something that keeps many businesses away from the implementation of KM systems. But this reaction does not address the business issue related to managing your corporate knowledge systematically and, hence, will only increase it over time.

Prepare for transition Once problem areas have been identified, the next step is to prepare yourself, your employees as well as the entire workplace for the transition. Application and implementation of KM systems deal with cultural changes at the workplace rather than change in technology alone.

Your employees may try to resist the change or may even try to oppose it. To avoid this or deal with it you must follow a smart or wise approach and bring about gradual changes. Give yourself and your employees time to get slowly used to using a new KM system, provide them with the aid and training to adapt to new systems and make sure this phase is dealt with patience and understanding.

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Most people have a natural inclination and desire to learn and share their knowledge. Each and every employee belonging to your organization wants things to be easier and more effective.Planning your first Knowledge Management Solution By Reynold Leming Knowledge Management (KM) has for some time been an objective for information technology; increasingly it is being identified and implemented as a core business process.

There are many definitions proffered for KM, so I begin this article by providing a hopefully. The knowledge management assessment should cover all five core knowledge management components: people, processes, technology, structure, and culture.

A typical assessment should provide an overview of the assessment, the gaps between current and desired states, and the recommendations for attenuating identified gaps. To develop an effective knowledge management (KM) program, your organization needs a systematic strategy, not just a general plan to help employees share knowledge.

APQC has the best practices, tools, and insight to guide you toward the best approach.

knowledge management business plan

We recommend starting with a detailed business. Aug 20,  · In this complex, global business environment, these types of knowledge management programs can help managers embrace change and encourage ideas and insight, which often lead to innovation, even.

Implementation Process of a Knowledge Management Initiative: Yellow Pages such as knowledge for business goals and strategies as Implementation Process of a Knowledge Management Initiative: Yellow Pages dissemination, knowledge utilization, knowledge retention and knowledge evaluation and.

A winning knowledge management program increases staff productivity, product and service quality, and deliverable consistency by capitalizing on intellectual and knowledge-based assets. Many organizations leap into a knowledge management solution (e.g.

document management.

8 Steps to Implementing a Knowledge Management Program at Your Organization