Knowledge is a valuable resource that binds an organisation together. Knowledge governs how we make decisions, how we react to change and how we grow.
For enterprise, what an organisation ‘knows’ defines the standard of its operations. Capturing and having open access to organisational knowledge can create sustained competitive advantages by driving both performance and innovation.
If managed correctly, knowledge can become a company’s most valuable asset. It can be shared, retrieved, added to and utilised in perpetuity.
In our three-part article series, Foundations of Knowledge Management, our experts provide practical tips that can be applied in your business.
Our three-part series covers:
In the second instalment, we outline five ways that effective processes for knowledge capture, storage and retrieval can bring value to a business.
“Knowledge is power. Shared knowledge is power multiplied” - Robert Noyce, Co-founder of Intel Corporation
Knowledge is increasingly being recognised as an organisation’s most valuable asset.
When appropriately captured, knowledge can be shared, retrieved and utilised by the business in perpetuity. If strategies to manage knowledge are created and implemented, this knowledge asset can be leveraged to create real cost and time efficiencies within organisations.
Five of the most significant impacts that effective knowledge management can have on an organisation are:
These are just a few of the ways that good knowledge management can help to achieve real efficiency improvement, cost reduction and competitive advantage in a business.
Our next article will discuss four elements of successful knowledge management that can help you to achieve these outcomes.
Contact our Knowledge Management experts to find out more about how we can help you leverage your knowledge inside your organisation.
Contributing authors: Matt McLean and Amy Jackson