Why manage knowledge

We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience. Necessary Necessary. This is an necessary category. Be sure to read about - Continuous Improvement and why your organization has to take on this mindset. Knowledge Management means building reliable systems designed specifically to capture this tribal knowledge on an often, regular and recurring basis.

This includes updating knowledge already documented, which can be effortlessly done with VKS Lite. It will facilitate the transfer of the tribal knowledge as well as it's management to an easier and more accessible digital platform for future employees. We all know that getting started is most frequently the hardest part of any project, and this one will be no different.

The good news is that you have acknowledged the need to do something. So, finally the HOW. Besides, this paper is not intended to be that detailed. The first question is, how or where do you start. Your people are the key to your success. Without acknowledging this first, you may be viewing your people more as physical assets like machines or trucks, which depreciate over time. The tribal knowledge is your most valuable competitive advantage.

Your competitors are using the same processes, tools, machines, etc. Documenting this knowledge is an investment in the future of the company. This should be automatic given the first two acknowledgements.

If you want to learn more on how to document your processes, you can also read our blog post about 5 ways to build effective work instructions. Beyond this acknowledgement, which by the way is a massive hurdle for many organizations, senior leadership must be prepared to:.

Integrate this work into the fabric of the corporate culture Companies succeed or fail on culture, and the value of knowledge must be part of that. Hold leadership accountable for making this a priority Leadership at all levels should prioritize this work. Implement systems that make it simpler to capture knowledge.

This includes prioritizing and organizing the information that needs to be gathered. Incentivize participation. We all know that tribal knowledge can be viewed as a competitive advantage for the individuals who own it. Lastly, get to work. Remember, this is not a 6 or 12 month project.

This is a permanent change in your organization and culture. With the Industry 4. A fundamental key to any company's success is to capture, preserve and build upon their carefully collected accumulated knowledge. Society has found a way to communicate the best ways of doing any task and making hundreds of thousands of peoples lives much easier.

I can guarantee every person reading this article has watched or read an article to help them figure out and fix something that has broken. So if you, the general population, see massive advantages in knowledge management and sharing, what is holding up your business from doing the same? Are you and your company actively managing knowledge? Photo credit: Microsoft Free Clip Art. Managers are bombarded with an almost constant stream of data every day.

This overload of data is making knowledge management increasingly more important. Facilitates decision-making capabilities, 2. Builds learning organizations by making learning routine, and, 3. Stimulates cultural change and innovation. Data can offer managers a wealth of information but processing overwhelming amounts can get in the way of achieving high-quality decisions.