Leveraging Knowledge

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Leveraging Knowledge

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Leveraging Knowledge:

Leveraging Knowledge Dr. G C Mohanta, BE(Mech), MSc(Engg), MBA, PhD(Mgt) Professor Al-Qurmoshi Institute of Business Management, Hyderabad - 500005

Leveraging Knowledge:

Leveraging Knowledge Leverage – Leverage is the ability to influence a system, or an environment, in a way that multiplies the outcome of one's efforts without a corresponding increase in the consumption of resources. In other words, leverage is the advantageous condition of having a relatively small amount of cost to yield a relatively high level of returns.  Leveraging Knowledge - Effectively managing existing knowledge and transferring the knowledge between various stakeholders for improving the capabilities of an organisation that allow them to differentiate their goods and services from those of their competitors.

Leveraging Knowledge (Contd.):

Leveraging Knowledge (Contd.) Leveraging Knowledge can be done through Knowledge Management systems. Knowledge Management is the process of: Capturing, storing, retrieving and distributing tangible Knowledge Assets, such as, copyrights, patents and licenses. Gathering, organizing and disseminating intangible knowledge, such as, professional know how and expertise, individual insight and experience, creative solutions and the like, brands, technology. Creating an interactive learning environment where people readily transfer and share what they know, internalize it and apply it to create new knowledge.

Knowledge Management Systems:

Knowledge Management Systems There are four knowledge management systems: Knowledge discovery systems, Knowledge capture systems, Knowledge sharing systems and Knowledge application systems.

Knowledge discovery system:

Knowledge discovery system Knowledge discovery system supports the process of developing new tacit or explicit knowledge from: data & information, or the synthesis of prior knowledge Two KM sub-processes are associated with KM discovery: Combination , enabling the discovery of new explicit knowledge and Socialization , enabling the discovery of new tacit knowledge.

Knowledge capture systems :

Knowledge capture systems Knowledge capture systems support the process of retrieving either explicit or tacit knowledge. It captures the knowledge which is residing within/outside organizational boundaries with: Consultants, Competitors, Customers, Suppliers and Prior employers of the organization’s new employees .

Knowledge sharing systems :

Knowledge sharing systems Knowledge sharing systems support the process through which explicit/tacit knowledge is communicated to other individuals. Knowledge sharing means effective transfer, so that recipient of knowledge can understand it well enough to act on it. Depending on whether explicit or tacit knowledge is shared, exchange or socialization processes are used. Socialization facilitates sharing of tacit knowledge in cases where new tacit knowledge is created. Exchange focuses on sharing of explicit knowledge. Exchange is used to communicate or transfer explicit knowledge among individuals, groups & organizations.

Knowledge application systems :

Knowledge application systems Knowledge Application Systems contribute directly to organizational performance, when used for making decisions & performing tasks. Knowledge Application Systems make use of two KM sub-processes: Routines, such as, o rganizational policies, and Direction, such as, help desks and support centers Knowledge Application Systems do not involve actual transfer or exchange of knowledge between concerned individuals. But only transfer of recommendations that is applicable in a specific context.

10 Ways for Leveraging Knowledge:

10 Ways for Leveraging Knowledge There are ten ways to leverage knowledge: 1. Improve knowledge flows between individuals –The communication between knowledge workers within the organization is very crucial for knowledge sharing and improving creativity. Organizations can create collaborative climate to enable team activities; organize induction programs, job rotation, master/apprenticeship schemes, etc. 2. Improve knowledge flows from individuals to external structure - By sharing their knowledge, knowledge workers can enhance the reputation of the organization. They can help the customers to learn about the products of the company by holding product seminars and providing customer education.

10 Ways for Leveraging Knowledge (Contd.):

10 Ways for Leveraging Knowledge (Contd.) 3. Improve knowledge flows from external structure to individuals - Knowledge workers can learn a lot from customers, suppliers and community. They can get new ideas, new experiences and new technical knowledge from them. 4. Improve knowledge flows from individual competence into internal structure – The organizations can encourage the knowledge workers to document their knowledge and experiences and put them in the organizational repositories, so that the same can be shared by whole organization.

10 Ways for Leveraging Knowledge (Contd.):

10 Ways for Leveraging Knowledge (Contd.) 5. Improve knowledge flows from internal structure to individual competence – The knowledge placed in the organizational repositories can be used by the individuals in the organization to improve their knowledge and competence. 6. Improve knowledge flows within the external structure – The interaction of customers with each other about the services/products of the company, can have enormous impact on the success of the company. The company can support the feedback mechanism for competence growth and can influence the transfer of competence between the stakeholders in the external structure.

10 Ways for Leveraging Knowledge (Contd.):

10 Ways for Leveraging Knowledge (Contd.) 7. Improve knowledge flows from external to internal structure – The competence from the customers, suppliers, and other stakeholders can be tapped to improve the organization’s systems, tools, processes and products. Organisation can empower support staff to generate knowledge from customer complaints to R&D alliances. 8. Improve knowledge flows from internal to external structure - The organization’s systems, tools, processes, and products can improve the competence of the customers, suppliers and other stakeholders, by using organization’s systems to service the customer, and also through extranets, product tracking, help desks, e-business, etc.

10 Ways for Leveraging Knowledge (Contd.):

10 Ways for Leveraging Knowledge (Contd.) 9. Improve knowledge flows within the internal structure - The internal structure is the supporting backbone of the knowledge workers. Activities focussed on streamlining databases, building integrated IT systems, intranet, improving office layout, etc. will have the highest impact. 10. Maximize value creation – see the whole – The reward systems that encourage individual competition, will block the efforts to enhance knowledge sharing, should be avoided. Data repositories should be highly interactive to improve the capacity of individual to learn and act.

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