Knowledge Management: What it is, Objectives, Components, Importance and MORE

7 minutos de lectura

The Knowledge management It is an effective way to improve all aspects of a company, organization or institution, as it is a way to expand the knowledge of all staff and employ better management.

If you have a company, you are part of one or you are simply interested in knowing more about the subject, keep reading the article where we detail many aspects to take into account on how to make a correct one Knowledge management

Keep reading and know all the details!

What is Knowledge Management?

It is a process in which an organization allows itself to facilitate the transmission of information and skills to its employees, in a systematic and efficient way.

For this reason, it is also said that it is a discipline whose purpose is to improve the performance of individuals within organizations, in order to maintain and take advantage of the present and future value of knowledge assets.

In addition, it can be considered as an integration of numerous efforts and fields of study, since the procedure supports organizations to find relevant information, having to select, organize and communicate it to all active personnel.

All the aforementioned is essential to achieve actions such as problem solving, dynamic learning and decision-making in everything that concerns the institution.

Along the same lines, thanks to the Knowledge management the performance of the organization can be improved in the process of achieving a smarter one for all, since it involves both the planning of strategies and the establishment of policies, as well as the collaboration of all the organization’s staff, their sense of commitment and acceptance of the management process.

An institution that is based on knowledge implies that it must be in a constant general search for traditional management approaches: the selection of personnel, the hiring and management of workers.

All this, with the new business approach in which all the information is combined with human resources, this being the participation, commitment, motivation and responsibility of the workers.
Finally, Knowledge Management is about a job, largely human resources, where the conditions are created for a breakthrough in business culture.

objectives

Among the objectives of the knowledge management are the following:

  • Increase business opportunities.
  • Improve and increase internal communication. Increase the competitiveness of the company compared to others.
  • Raise the leadership and recognition of companies within the market.
  • Promote worker performance.
  • Convert knowledge into action and results.
  • Take advantage of the skills of employees and to increase their productivity.
  • Generate “smart” companies for problem solving.

Components of Knowledge Management

In the center of knowledge management Two essential components must be taken into account: skills and information. Both are essential when considering the process both externally and internally.

  • Abilities: It is specifically the talents and skills that are part of companies. However, transmitting them requires time, patience and resources since they are usually done through training processes.

In this way, they are associated with the Institution’s Training Plans and it is an important effort to know how to identify those people who have the most valuable skills inside and outside the organization so that they can share their knowledge. For this reason, entities often hire others to be in charge of the process and to be external to it.

  • Information: This is all the data to be transmitted. For this, computer systems or the company’s own data exchange means are usually used. If they are well designed and have a good strategy, they can even serve as elements to gather external information and expand internal communication.

Thus, information can be collected and stored by the company’s information systems, facilitating the creation of a so-called “environment scorecard” and a “balanced scorecard” for management. However, if these systems are well designed, periodic and systematic information can be obtained on everything that happens internally and externally and decisions can be made quickly and efficiently.

What is it for?

The Knowledge management it has many advantages or benefits. Some of them are explained below:

  • Provides new knowledge for staff and members of the institution.
  • It improves the quality of the products and services offered by the company.
  • Perfect customer service.
  • Contributes positively to relationships with suppliers or partners.
  • Improves the work environment and interpersonal communications.
  • Encourage worker participation by promoting better communications.
  • Simplify management and production processes.
  • It generates greater efficiency in the use of resources and tools.
  • It provides better instruments for management management.

These, just to name a few, although each company will notice, after its management, all the benefits that can be obtained by doing something like this.

Importance

Despite everything explained above, the Knowledge management it goes much further than a simple computer system or staff training plan. It is important to promote an innovative, productive and efficient business structure.

The best thing is that it can be achieved with only knowledge, and if this flows, flows and is transmitted correctly in the organization, the easier the procedure will be. Useful skills and information are quickly transmitted to employees, thereby increasing the possibility of producing new knowledge that immediately leads to improvements in processes or products and new ways of doing business to achieve other objectives.

The most important importance is that knowledge is the only personal asset that grows over time, does not wear out and does not expire, but also if it is not shared properly it can disappear with people.
For this reason, we invite you to do it, regardless of whether it is a large, medium or small company, as it will surely bring multiple benefits.

Examples of companies that have applied Knowledge Management

According to different analyzes, among which the Most Admired Knowledge Enterprise award (MAKE awards as they are popularly known) stands out, there are several recognized companies that have stood out in their Knowledge Management.

In 2013, the following companies won the award: Accenture, Amazon, Apple, Philipps, Deloitte, EY, Flour, Google, IBM, Infosys, McKinsey, Microsoft, POSCO, PWC, Samsung, Schlumberger, Tata, Toyota, Vale and Wipro.

All leaders in their markets and concerned with complying with processes in which they can grow and advance in productivity, knowledge and communication.

How to manage knowledge?

When speaking of living knowledge, that is to say permanently updateable, it is necessary to know and establish the following work guidelines to make it useful and profitable:

  • The definition of objectives.
  • Application of specific methodologies to achieve the defined objectives.
  • To anticipate and organize the instruments for its realization and its implementation.
  • Generate, evaluate and analyze results.
  • Propose best practices.
  • Have a well-defined corporate mission and vision.
  • Generate leadership, especially in management.
  • Provide motivation to staff to get involved in the process and ensure their active participation.
  • Share and synthesize the information collected.
  • Ensure the continuous transfer of best practices through the appropriate tools.
  • Learn both from mistakes and successes of your own and of others.
  • Know the approaches on how an organization begins, progresses and reforms.

Knowledge Management Tools

Among the tools to be used within a company, institution or organization, to achieve a correct knowledge management are found:

  • Digital libraries.
  • Databases.
  • Knowledge bases are related to artificial intelligence.
  • Documentary bases.
  • Software.
  • Documentation and image management programs.
  • Databases with document references and their content (or, failing that, the computerization of content on paper).
  • The Intranet (recommended element to strengthen the internal communication of a company).
  • Search engines.
  • Information integration programs.
  • User profiles.

All these are tools that serve to digitize and make the collected knowledge easily accessible, since they allow a versatile treatment of the knowledge to be shared. Likewise, they provide rapid dissemination and quick access to the information that is available.

What are the phases?

A standard process of knowledge management it will normally be adjusted from the following phases:

  1. Create a vision: know what is the objective (or objectives) that you intend to achieve.
  2. Assess the landscape: know the status of current knowledge within the members of the company.
  3. Generate new knowledge.
  4. Internally share new knowledge.
  5. Apply everything you have learned.
  6. Measure results before and after management.

Keys to the success of a knowledge management program

Finally, we share some key signs to make knowledge management a truly successful process:

  • Actions must correspond to the company’s strategy and go hand in hand with the objectives.
  • Carry out a preliminary study of the company’s activities to focus on those that generate competitive advantages.
  • Choose to transform implicit knowledge into explicit.
  • Ensuring that the collection, storage and retrieval of knowledge will increase the value of the company’s assets.
  • Choose the most ideal tool, according to the institution, for the storage and retrieval of knowledge.
  • Transmit the collected knowledge to all members of the organization.
  • Support the initiatives that are developed after measuring the results of the process.

If you want to read a related topic, you can click here

Thanks for reading!

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