What is knowledge management and why should I have a strategy for it?

Knowledge Management Strategy


Knowledge management is the process of capturing, sharing, filtering, optimising, using and managing the knowledge and information in an organisation for the purposes of working more effectively and ultimately, more profitably.

Without a clear strategy outlining the whys and hows of the organisation’s needs for knowledge management, it is difficult to align, focus and drive the intended initiatives OR to see if you’re making progress. A good knowledge management strategy will help increase awareness and understanding of how knowledge management will assist in achieving the desired business plan outcomes and clearly illustrate how each team member can contribute and benefit in terms of the knowledge strategy outcomes.

Some of the why’s the strategy could address could be determined by taking different viewpoints such as:

The deliverables or outcomes of a knowledge management strategy typically consist of information sharing applications, work-flows, manuals, intranets or portals, eLearning tools or platforms, scheduling and HR type applications, shared drive policies and maps, videoconferencing tools, new areas of knowledge that need to be acquired, and up-skilling in information and knowledge capture (e.g. technical writing). All these tools leverage and share your organisation’s knowledge so you, as a director, can free up more headspace for working on your business and hopefully be rest-assured that if you do have some time off, the organisation will continue to run as you had intended.

For more information about creating and implementing a knowledge management strategy, contact your nearest Compass South trusted business advisor.

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