Maximize Business Efficiency Through Knowledge Management

15-06-20 Dr.Adnan 0 comment

Knowledge management

Knowledge management is a contemporary intellectual development that was initially proposed as new frameworks and entries in the study and understanding of the organization’s business. It became a practical exercise and more appropriate to the rapid changes in the business world.

It is the tools and human resources used to collect, manage, disseminate and invest knowledge within an organization.

The role of intellectual management has increased as the building and sustainability of competitive advantage has become mainly dependent on intellectual assets, specifically on knowledge assets and investment in them. This enhances continuous creativity, both at the product and process level, and is also considered one of the components of the growth of that advantage as long as possible.

Organizations realized that knowledge is the most important intangible. They have knowledge, but their employees cannot discover, access or apply it, because they do not know the appropriate means, so these organization have sought to manage this intangible.

The importance of knowledge acquisition in the success of organizations

Today, knowledge management takes its place as an important intellectual development in the business world, because organization notice that knowledge without management is useless. It is mostly implicit and needs to be disclosed diagnosed, stored, distributed and disseminated in the organization. The role of management comes to formulate appropriate systems and programs to detect this knowledge.

Knowledge management expresses the processes, tools and behaviors that are formulated and performed by the beneficiaries of the organization, to acquire, store and distribute knowledge to reflect on business processes in order to reach the best applications for long-term competition and adaptation.

The importance of knowledge management

The knowledge process is summarized in the following points:

1- Knowledge management is a great opportunity for organizations to reduce costs and raise their internal assets to generate new revenues.

2- It is a systematic and integrative process to coordinate the organization’s various activities to achieve its objectives.

3- It allows the organization to identify the required knowledge and document, develop, participate, apply and evaluate the available knowledge.

4- It is a catalyst for organizations to encourage the creative capacities of their human resources to create good knowledge and pre-disclose of unknown relationships and gaps in their expectations.

5- Provide the opportunity to get the permanent competitive advantage of organizations through helping them to adopt more innovations in the introduction of new goods and services.

6- Contribute to maximizing the value of knowledge through concentrating on content.

Knowledge management objectives:

It aims to capture, store and reuse knowledge from its sources, attract greater intellectual capital to develop solutions of problems facing the organization, and create a regulatory environment that encourages everyone in the organization to share knowledge and raise the level of knowledge.

It seeks to identify and acquire essential knowledge, and transform implicit knowledge into apparent one. It maximizes returns from intellectual property through using the inventions and knowledge and trading in innovations.

Factors of success and failure in knowledge management

Many researchers have identified several rules or methodologies to achieve success of knowledge management. They stipulate that knowledge management initiative should be integrated with the business strategy into the organization’s culture, and reliable information should also be available to suitable people at the right time.

1- Support innovation and emphasis on continuous learning opportunities for individuals.

2- Provide opportunities to participate in research and discussion.

3- Identify and develop leaders who build and support learning models at the individual, team and organization level.

4- Help individuals to identify the role, requirements, contents and applications of knowledge to accomplish their work through training courses in knowledge management.

5- Pay attention on the flow of knowledge more than storing it.

6- Establish systems to understand, spread learning and using it for participating.

Factors of failure in knowledge management

1- Inability to develop the definition or practical identification of knowledge, specifically the distinguish between data, information and knowledge.

2- Depending on knowledge stored in knowledge bases, and not the flow of knowledge, especially new one.

3- The absolute perception of knowledge as it is existed outside the minds, while most of it is implicit and latent in their minds.

4- Ignoring the basic goal of knowledge management represented in creating common contexts through dialogue.

5- Replace technological communication rather than human interaction (face-to-face dialogue).

6- Not recognizing the importance and role of implicit knowledge, and not encouraging its manifestation.

Knowledge management training

Knowledge management training aims to identify the levels of management knowledge of leaders and the factors affecting this knowledge, the importance of planning in rationalizing decision-making processes and requirements, and knowledge of planning in predicting future results.

Conclusion

According to the future of knowledge management, many researchers expect that it will continue to grow and cover most organizations in the world with large spending.

Many believe that this growth in the number of organizations adopting knowledge management programmes will increase due to pressure on rapid innovations and the emergence of more comprehensive and socially adapted programmes, as well as rethinking of how knowledge contributes in marketing its business by adopting a full understanding of the principles of knowledge first. Second, adopting more integration of comprehensive concepts of knowledge management, i.e. building a knowledge organization.



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