Question

Explain “Knowledge Management Strategy” and “Business Case”. Why there has to be a clear “Knowledge Management Strategy” and “Business Case” for sustainable “Knowledge management” system ?

Answer 1

The knowledge management strategy is the set of initiatives that are used to manage the knowledge and information available to the organization so that the different functions of the organization can best utilize it to achieve the organizational goals. Here, knowledge management strategy is used to improve the learning curve of the organization and different teams develop competencies over a period of time. The business case regarding the knowledge management, deals with the justification of going with the knowledge management that can benefit the organization and its different function. It can be understood by the example of Google that uses knowledge management strategy to enhance its capabilities to create value for the consumers that returns with higher revenue & profitability. The improved level of services offered by the Google on a regular basis, is only possible due to the proper knowledge management strategy in place. So, it is a business case for the any other organization to apply efficient knowledge management strategy.

This strategy is important should be clear for the sustainable knowledge management system (KMS), because:

1. Clarity in strategy & proper business case, creates clarity in objectives that is achieved by the knowledge management system.

2. Clarity in strategy & proper business case, helps the system to deliver incremental innovation, capabilities and core competencies to the organization.

3. Clarity in strategy & proper business case, brings regular improvement in the knowledge management system so that it is sustainable in serving its purpose in changing business environment.

4. Clarity in strategy & proper business case, brings compliances with the regulations, ethical conduct and best knowledge management practices. It also drives sustainability in knowledge management system.

There are organizations such as IBM, Microsoft & Apple that bring clear knowledge management strategy & create a business case for the sustainable LMS.