CHAPTER 4: KNOWLEDGE MANAGEMENT Flashcards
involves several processes aimed at ensuring that critical knowledge is shared and used effectively within an organization.
Managing Knowledge
key aspects of managing knowledge
- knowledge creation
- knowledge sharing
- knowledge retention
Encouraging innovation and the development of new insights through brainstorming, R&D and a culture of curiosity
Knowledge Creation
This happens when individuals or groups exchange insights or information to solve problems and make decisions
Knowledge Sharing
it’s important to keep critical knowledge within the organization, even if employees leave. Many companies use knowledge repositories or mentoring programs to retain key insights
Knowledge Retention
These exist within an organization, allowing employees from different departments or teams to share knowledge.
Internal Knowledge Markets.
refers to turning tacit knowledge (personal expertise or know-how) into explicit knowledge that can be easily shared, stored, and accessed by others.
Codification
Types of Knowledge Markets
- Internal Knowledge Markets.
- External Knowledge Markets:
Organizations can tap into
external knowledge sources by collaborating with universities, research centers, or even competitors
External knowledge markets
is the process of making that codified knowledge available to employees and stakeholders.
(Intranet Portals, Collaborative Tools)
Distribution
plays a vital role in facilitating knowledge management There are many tools and systems that help organization slow capture.
store, and distribute knowledge
- Technology
these digital systems are designed to store and manage knowledge structured way .
knowledge management systems (kms)
Some key technologies include:
- knowledge management systems (kms)
- collaboration tools
- cloud solutions
it helps organizations store documents, track projects, and manage workflows
SharePoint
enable team members to communicate and share knowledge effectively, breaking down silos within organizations
Collaboration Tool
platforms in collaboration tool
stack, Microsoft Teams, or Trello
allows employees to access files and and collaboration and documents from anywhere, promoting flexibility
and collaboration
cloud solutions
cloud storage solutions like
Google Drive and Dropbox
Benefits of these technologies include
enabling fast access to knowledge, improving collaboration, and reducing redundancy work
Companies hire consultants or industry experts who bring a new perspectives and specialized knowledge
Hiring Experts
organization often need to acquire knowledge from outside resources to stay competitive and innovative
importing knowledge
Methods of Importing Knowledge
Hiring Experts
Collaboration Alliances
Alliances Companies may partner with universities or other businesses for research development, and innovation
Collaboration Alliances
means gaining insights from customers, competitors, and market trends to improve a company’s strategies and products
Learning from the market
refers to leveraging partnerships to gain shared knowledge Through strategic collaborations, organizations can learn from each other and novate together
Learning through alliances
For example, Starbucks collaborates with PepsiCo to distribute its ready-to-drink coffee products, combining Starbucks’ brand power and PepsiCo’s distribution expertise to succeed in new markets
Learning through alliances
For example Amazon continuously analyzes customer feedback to improve their products and services They use this market learning to improve their recommendation engine offering customers more relevant products based on their browsing behavior
Learning from the market
is essential to prevent theft or misuse. Organizations need to safeguard their intellectual property (IP) to maintain competitive advantages
Protecting knowledge
Strategies for protecting knowledge
- Intellectual Property (IP) Protection
- Non-Disclosure Agreements (NDAs)
- Security Systems Companies
- Companies often patent new technologies or ideas to secure their innovations
Intellectual Property (IP) Protection
These contracts protect confidential information from being shared with unauthorized individuals.
Non-Disclosure Agreements (NDAs)
is well known for patenting its designs and technologies
Apple
also invest cybersecurity to protect their digital knowledge from hacking or unauthorized access
Security Systems Companies
