Knowledge management is often viewed as a supply-side issue. As a result, business benefits don’t materialize. Management commitment is a key component in the ability to derive substantial and quantifiable benefits from knowledge management initiatives. Many leaders look at knowledge technology as both the solution and the benefit, but have internal structures that are unable to capitalize on their organizations’ knowledge assets. All these factors result in a reluctance to adopt a culture of leveraging knowledge to derive real business benefits.
The Concept Searching Difference
Leverage all knowledge assets
Use corporate memory for business advantage
Eliminate manual intervention and tagging
Before information is transformed into knowledge, it must be captured from within an organization. It is hypothesized that these harvesting activities lead to competitive advantage. During the transformation, the lines between information and knowledge begin to blur. Most organizations are still seeking information, as opposed to knowledge, which may be useful to the strategic initiatives of their organization. Research indicates that knowledge acquisition is positively correlated with knowledge exploitation for competitive advantage, and linked to tangible differentiation in the marketplace. A culture of collaboration among staff begins the process of capturing tacit knowledge and turning it into knowledge assets, which typically generates strategic mechanisms for achieving company objectives. Without knowledge management, how do you know what you know? Simple answer – you don’t.