Is Knowledge Management a fad?

No, it is not. Knowledge is one of the key intangible assets an organization possesses. Increasingly, the products and services of many organizations consist of ideas and innovations. Knowledge Management is here to stay.

Is Knowledge Management new?

Knowledge Management is as new as Egyptian pyramids. Various civilizations in the past have managed knowledge to establish their positioning and to thrive in their respective communities. We have gone through various stages of economic development, from agricultural economy to industrial economy and recently the information economy. It is simply that more organizations are paying attention to managing knowledge now because of the complexity of business and the convergence of technology.

Is Knowledge Management important for small businesses?

Intangible assets consisting of customers and employees are important for all businesses. Such a question would not arise if the nature of managing knowledge were understood.

What is knowledge management?

It is about creating an exciting environment within the organization that will promote the creation and transfer of knowledge.

It is about changing corporate culture and about visionary leadership, motivated staff, loyal customers and the systems and processes that facilitate these things.

Do we need to recruit experts to introduce knowledge management?

There is no need to recruit expensive experts. In the beginning of a knowledge management initiative it will help to bring in outside out gradually so that the employees within the organization can own and sustain the initiatives.

Do we need to invest heavily in IT?

No, most of the initiatives can be started by very little investment in IT. Technology should be used as an enabler. There are various initiatives that can be started without initially spending any money on IT. Managing knowledge is about managing people, not technology.

Which is the best knowledge management system for small business?

There are many knowledge management system vendors, but they are not concerned with knowledge management as such. Systems enable the capture of information; they do not enable knowledge creation. Only you as a leader motivate the staff to create and transfer knowledge.

Can benchmarking help to introduce a knowledge management culture in the organization?

Benchmarking is about adopting and adapting best practice. Best practice in relation to becoming an effective leader or to improve customer service or to develop your staffs leads to an appropriate culture for managing knowledge.

Source: Effective Knowledge Management (A Best Practice Blueprint) by Sultan Kermally