How do you develop a Strategy for Managing Knowledge? There are many strategies for knowledge management. These actions can change how an organization does business, transform a company, industry, or nation, and are highly effective. However, if you don't implement a strategy, you'll find yourself stuck in a rut with little progress or innovation. Here are four standard methods:
Personalization centric: Personalization-centric knowledge management strategies focus on connecting people. They invest heavily in the human side of the equation, assuring that ninety per cent of the team knows everything about the entire organization. In a coherent knowledge management strategy, personalization and codification are essential aspects. Often, knowledge management strategies combine these two elements. This is because knowledge is multi-dimensional and is not simply a collection of knowledge.
Codification: Codification strategies have become the most prevalent knowledge management strategies, despite the widespread dissatisfaction with technological tools. The codification strategy involves systematically storing commercial knowledge in databases and computer programs. This way, learning becomes accessible to everyone. On the other hand, personalization focuses on the development of knowledge rather than the creation of it. Ultimately, both strategies are equally effective and complementary, though the two approaches are primarily different.
Implementation: There are several different types of knowledge management strategies. Personalization and codification are the two most common approaches, although choosing the one that suits your business best is essential. Implementing the wrong strategy could result in wasted resources and performance and the loss of a sustainable competitive advantage. The article develops the theory of two dimensions of a knowledge management strategy using a case study of a small and medium enterprise (SME).
Projects involving knowledge management should be driven by a strong business need and have a clear goal of adding value to operations. Most successful knowledge management projects were motivated by a business need and had a defined plan for success. In addition to improving business processes, knowledge management projects are an excellent way to enhance productivity. And it will benefit a business if you create a culture of continuous improvement. And you can start by measuring the effectiveness of your knowledge management program.
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