Question

Knowledge Management

• Discuss with examples the major KM objectives and how specific KM initiatives can be implemented to address them.
• Illustrate the major elements of a KM strategy and discuss the processes involved in each step.

Answer 1

The following part of the answer focus on the objectives of Knowledge Management.

a) Building a culture where knowledge will be shared among employees.

b) Supporting innovation of service or product within the organisation.

c) Enhance learning and development within organization.

d) Managing assets of knowledge.

e) Enhancing productivity of employees.

The following part of the answer focus on KM initiatives which are taken in order to meet the objectives.

a) Analysing knowledge - Since sharing knowledge among employees within the organisation is one of the major objective of KM therefore, analysing the correct and relevant knowledge is important. Large chunks of data are available everywhere but this initiative helps to circulate relevant information among employees within the organisation.

b) Rewards and recognition - Another major objective of KM is to enhance the productivity of the employees. In order to enhance the productivity of the employees they should be motivated. In order to motivate employees, acknowledging their performance and rewarding them is of utmost importance.

The following part of the answer focus on the major elements of the strategy of KM.

a) People or employees within the organisation.

b) Process which include governance as well as best practice.

c) Use of technology of enabling automated management of knowledge within the organisation.

d) The structure of the organisation.

e) The culture of the organisation.

Steps involved.

a) KM Value proposition. This involves steps which can help the KM to solve several challenges in business.

b) Tools and roles required for achieving the objectives.

c) Budget.

d) Impact of KM on the organisation i.e. Return on Investment.