The boundaries between different types of information work within an organization are blurring, and knowledge management (KM) is now essential to the success of any information-centred organization. It is about sharing: establishing a collaborative environment; getting the right information to the right people at the right time, place and cost; and exploiting intellectual capital to increase revenue and improve efficiency.
KM and knowledge sharing must become integral to what organizations do. The processes to enable knowledge capture should be embedded into ways of working. The key focus should be not on technology, but on the facilitation of the appropriate culture and behaviours. Primarily there must be buy-in and sponsorship from the top, inclusion of KM in annual objectives, and proper recognition for those members of an organisation who excel in sharing knowledge.
When identifying the business benefits of knowledge management there are a number of aspects to consider:
Speed, Quality and Efficiency
Risk Management
Organic growth and structure of organisation
Opportunities and challenges as organisations seek to recoup their investment in people
Professional development and reflective learning
Talent recruitment and retention
Customer focus
