During a recent discussion about the knowledge drain, we ended up talking about an organisation whose growth plans didn’t go quite the way they expected.
Here’s the story. Company X (they are always called X) identified that it needed a number of new members for its senior management team to help implement the new growth strategy. Just 18 months later, the strategy collapsed and most of the team had left, taking with them their know how – the knowledge drain
We considered what the costs and the impact this had on the overall business budget, these are just a few musings:-
What I would like to ask is, what if the organisation had had some strategy for the creation and utilisation of knowledge (intellectual) assets before (or as part of) strategy formation?
Now, you may be new to the concept of knowledge management, but in simple terms…
Knowledge management (KM), exists to better identify, capture and then utilise the knowledge assets of an organisation.
In simpler terms the stuff that you unconsciously do – your know how, skills and expertise. As a solopreneur that is yours, if you have other members of your business or partners that you collaborate it is all of your ‘stuff’ and it is very valuable.
A long time ago Druker coined the phrase ‘Knowledge Worker’ as distinct from a manual worker. Everyone is a knowledge worker. No matter what role you have, you have ‘know how’ and that’s the bit, that is often harder to capture. Think about how you make a cake compared to me, who rarely measures out the ingredients and still gets great raw chocolates. (ok sometimes…)
By capturing and sharing knowledge in some way, a company can mitigate some of the losses which occur when ‘shit’ happens – people leave or retire.
Collaboration, opening up lines of communication and feedback becomes essential to continuous improvement and should invisibly exist.
Consider if, in our example, a knowledge strategy and infrastructure had been implemented and a knowledge culture encouraged.
Perhaps I am wearing rose tinted glasses when I get excited about the possibilities of knowledge management?
We often hear that one of the hardest things to measure is knowledge. Lets turn it on its head and ask, what is the risk and cost of not implementing a KM strategy?
If knowledge is valuable to you and your competitors what actions could you take to utilise and protect these, assuming you have created the knowledge asset in the first place?
Food for thought? I think so.
Inspiring you to discover your inspirational message, turning your stories into books which ignite you and your brand.. Re-discover your soul purpose | Share your message | Rock out your book and personal brand I love how words and stories change lives and build businesses. I work with you to help you find ideas for your non-fiction book, get it written, published and marketed - connecting it to your brand and purpose. You can grab this free report on how to find ideas for a book, which gives you 10 quick start ideas. I will update you with interesting news that I have found for writers, authors and entrepreneurs to help you build your brand around you and your books. Connect with me on Google Plus Jacqui Malpass
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