Are You Wasting Money On Useless Knowledge Management?

Is your company investing in expensive knowledge management systems that are useless for making big, strategy decisions? Most companies recognize the need for knowledge management, but often delegate it to the IT and HR departments without linking it to corporate strategy, often thereby wasting both resources and the strategic options their firm’s knowledge could generate. The problem is that most current knowledge management efforts merely inventory the company’s knowledge, without parsing out the knowledge that is strategically relevant. Strategic management of knowledge focuses only on those knowledge assets that are critical to your firm’s competitive performance — from the tacit expertise of key individuals right through to explicit company-wide general principles.

Here’s how to do it: use strategic management of knowledge (SMK) maps to depict a network of critical knowledge assets in four simple steps: 1) identify the knowledge assets that drive your organization’s competitive performance; 2) map them along the dimensions we present below; 3) analyze the strategic implications of the maps; 4) strategize and plan knowledge development trajectories.

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