Strategies for Dynamic Knowledge Management

The emerging picture of knowledge management trends is presented very well in the following statements - “Virtually every enterprise and institution is grappling with the disruptions and opportunities caused by web-enabled infrastructures and practices. New best practices, business models, innovations, and strategies are emerging, including new ways to acquire, assimilate and share knowledge.

Using technologies that are already developed or that will be deployed over the next five years, best practices in knowledge sharing not only are diffusing rapidly but will be substantially reinvented in all settings educational institutions, corporations, government organizations, associations and non-profits” (Norris et al.

, 2003). “As business operations become more globalized, the task of capturing information to support decision making is becoming more difficult. In the survey, 45 percent see better, sounder decision making as one of the top three benefits of good knowledge management” (EIU, 2005).

It is widely accepted that knowledge about customers, their preferences, and their behaviors are key to devising strategies related to marketing of products and services and assisting the companies in adapting new functionality and features within the deliver products to meet customer expectation.

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Technology tools like CRM (Customer relationship management) and ERP (Enterprise resource planning) have made their distinct presence felt in almost all kinds of industry and commerce.

These tools based on the principles of KM have leveraged the company adopting it in terms of improving the quality of information delivered and accessed by the employees. What is the knowledge management process? For effective knowledge transfer to take place within the organization the knowledge must be structured in a relevant manner, distributed through proper channels, shared with the intended audience and applied in the relevant context.

Many authors have provided various models for KM process.

DiBella and Nevis (1998) propose an organizational learning cycle of three steps that include knowledge acquisition, dissemination and utilization. Wiig (1993) proposes a four step process that includes creation and sourcing, compilation and transformation, dissemination, application and value realization. According to Van der Spek and Spijkervet (1997) the process of KM involves developing new knowledge, securing new and existing knowledge, distributing knowledge and combining available knowledge. The Accenture Knowledge Framework (Source: accenture.

com, 2009) The knowledge framework developed by Accenture, an IT and business service provider, specific knowledge management strategies with specific challenges that organizations face. According to this framework work is evaluated on two dimensions – first is the level of interdependence involved that is the extent of collaboration and interaction between the individuals and the organization. Second is the complexity of the work or the level of judgment and interpretation skills required to analyse the information or data.

Based on these two factors the knowledge framework was conceptualized. Transaction model represents low degree of interdependence and complexity. The training needs in this model are very formal consisting of work procedures and operational rules. Integration model reflects high degree of interdependence and low degree of complexity. Expert model represents low interdependence and high complexity covering work processes that require individual analytical skills and judgment. Collaboration model represents a high degree of interdependence and complexity.

Based on these models the training and learning requirements of various work processes are met. (Donoghue et al. , 2008) Knowledge sharing Business models centered on employee skills development and information sharing practices are well adapted to survive in challenging market conditions. The increasingly changing market demographics and business environment dynamics have created the need for effective training and development programs on a regular basis to fine tune the employee skills and capabilities.

Timely sharing of information is vital to maintain competitive edge (Whipp et al. , 1989). The sharing of information takes place through a “variety of media such as departmental meetings, conferences, interdepartmental meetings, in-house magazines, company newsletters, and videos” (Holbeche, 2005). It is vital that the communication process during this information exchange is two way for the process of knowledge sharing to be effective.