Organizational Knowledge Needs Management – “Knowledge Management”
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Organizational Knowledge Needs Management – “Knowledge Management”
Knowledge management is not a talked-about term in Indian industry, but it’s still a part of most of the organizations. Earlier it used to be the “want” of the organizations but now it a “need” and in one or the other way it has become part of Indian industry. Currently, many experienced companies struggle to utilize the pool of scattered information and the knowledge residing in the mature brain of the employees, but the information is so vast and vital that it needs to be brought under one roof.
So, what exactly is knowledge management? Knowledge management is collating, organizing, structuring, and managing the internal information generated in the organization over the years. The information which exists in the documents, desktop, emails and the brains of the people needs to be taken out and put it on a centralized portal. A step by step approach is required to reach this goal:
- Collaboration: A strong partnership among teams is needed to convince them about sharing data in an appropriate format.
- Collation: All the data and information received needs to be collected at a centralized place.
- Structure: Data and information collected needs to be structured and put them in shape to make it ready for easy uploading on the intranet portal like tagging, nomenclature etc.
- Insights Generation: Collected knowledge should be analyzed, and insights should be generated to make the uploaded information more meaningful and useful.
- Taking it Online: Information uploaded on the intranet portal should have an excellent interface for easy usability by the users.
The above steps might look simple and easy to implement, but it requires a lot of patience of the knowledge manager, commitment among teams to share the information on regular basis and last but not the least keeping the knowledge base relevant and updated.
Benefits which knowledge management brings to the business:
- Knowledge building: Tons of knowledge resides within the organization employees which can be leveraged and reused for future learning and improvements
- Reduce Rework: Information related to projects already completed can be used again to avoid some repeated works.
- Data Analysis: The amount the data generated through this can analyze analytically to produce an insightful result. A lot of industry leaders and fortune 500 companies have already started using their years of data to get powerful insights.
- Key Verticals: Though generating data insights are applicable for all variety of companies, but it’s compulsory for consumer-facing verticals like FMCG, Telecom, Retail, Insurance and Media & Entertainment.
All of the above is just a brief of this large quantum called “knowledge management”, for some its just an intranet portal but for some, it can be a growth weapon. Efficient use will make it more effective and efficient.
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