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5 Tips For Better Management Of Home Business
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The Practice of Knowledge Management

Knowledge management is not about technology. It is about
culture. To put it into the right perspective,the practice of
knowledge management will drive the organisation to develop a
strong culture of competency and innovation. Such enterprise-wide
culture will enable the organisation to achieve sustainable
superior performance. In other words, by strategically
capitalising on both tacit and explicit knowledge, an
organisation can secure and maintain a competitive advantage at
the market place. Information communication technology (ICT) is
an enabler to facilitate the practice of knowledge management.

For an organisation to successfully transform itself into a
knowledge enterprise, it must leverage on the eight key focus of
knowledge management. The eight key focus are K-identification,
K-acquisition, K-application, K-sharing, K-creation,
K-development, K-preservation and K-measurement. These eight key
focus will provide a systematic approach to introduce the
practice of knowledge management.

A structured knowledge identification exercise or knowledge needs
analysis (KNA) exercise must be conducted to establish the
knowledge gaps and deficiencies of an organisation. For
businesses to function at the speed of light, organisations need
to identify the current and specialised knowledge required to
implement its competitive strategies. By comparing the required
knowledge with existing knowledge capital, the knowledge gap can
then be defined. The larger the knowledge gap or deficiency, the
greater are the obstacles to achieve the desired goals of an
enterprise.

A positive environment must be created to induce intense
knowledge acquisition. Knowledge acquisition is to source for
current and specialised knowledge to close the knowledge gap of a
particular organisation. Knowledge can be derived within the
organisation, from existing employees, communities of practices
(COPs) and communities of innovative networks (COINs). Knowledge
can also be imported from outside the organisation, namely from
customers, suppliers and even specialists from the various areas
of businesses and expertise. Knowledge can also be attained from
K-products, such as reading materials, recorded CD-ROMs, on-line
learning, and through the World Wide Web. K-tools like learning
history will assist an organisation to learn from the past,
innovate on the future for today's consumption. Key emphasise
must be placed on real time acquisition, with short cycle
application.

Armed with critical, current and specialised knowledge, the next
focus is to pursue an obsession in knowledge application.
K-application will also induce spiral skills development, where
professionals are able to gauge their level of expertise


through
continuous contribution to the organisation. Most importantly,
knowledge gained must be immediately applied.

The practice of knowledge management advocates knowledge sharing.
Trust and mutual respect must be present to promote K-sharing.
Sharing of best practices will spur constant innovation, and this
will benefit the organisation. Enterprise recognition should be
given to encourage K-sharing in an organisation. Working in
innovative teams will provide a platform for K-sharing among
peers. A structured K-policy supported by a variety of K-tools
and collaborative technologies such as the intranet will promote
K-sharing.

K-development will focus on the development on conceptual,
behavioural and technical abilities of an individual. Planned
efforts like structured competency based learning must be
initiated to build the overall competency of employees in an
organisation. In other words, organisations need to be competency
driven, ensuring a high level of competency in its employees.

A passion to explore and innovate on ideas needs to be
cultivated. The enterprise must develop the ability to create new
knowledge. New knowledge will form the platform for the dynamics
of continuous innovation. This can be achieved by integrating
both tacit and explicit knowledge that exists in an organisation.

A high retention of knowledge can be achieved by creating a
culture for knowledge preservation. Enterprise wide K-sharing,
COPs and COINs can be used to preserve knowledge within an
organisation. K-preservation is about real time knowledge
capture, use, re-use and constant updating. Since knowledge has a
short 'life-span', the focus is on the frequency of using the
captured knowledge to support intelligent decision making.
Technology will be the enabler to store selective and current
specialised knowledge. Knowledge preserved must be made
accessible to every individual at any point in time.

A knowledge measurement system must be implemented to gauge the
knowledge capital of an enterprise on a periodic basis. The focus
is to measure the K-inventory of an organisation.

A new adage will then become apparent, an era where knowledge
will be power only if it is being used wisely. Hence, the
fundamentals of knowledge management will be prominent in an
economy where knowledge will be the deciding role in ensuring a
sustainable edge in an ever-competitive market.

About the Author

JT Frank the publisher of this article, can be reached at
jtfpg@tm.net.my or 604-6593859, offers training and consulting
services in the areas of Knowledge Management,
INVEST your organisation's Knowledge Capital Creation BUDGET with
one of ASIA's pioneering Knowledge Management Specialists - JT
Frank Management Centre

 

About Management - business management - people management - and more
THE starting place for exploring MANAGEMENT; helping new managers get started and experienced managers get better.
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Management - Wikipedia, the free encyclopedia
The phrase "management is what managers do" occurs widely, suggesting the difficulty of ... The management of a large organisation may have three levels: ...
en.wikipedia.org
 
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www.managementhelp.org
 
Welcome to the American Management Association
Helping business professionals learn practical management skills and the best practices of world class organization.
www.amanet.org
 
Project Management Institute (PMI) - The largest project ...
The organization of choice for project management professionalism. PMI establishes Project Management standards, provides seminars, educational programs and ...
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IT Project Management and IT Service Management Ideas and Analysis ...
Datamation provides ideas and analysis for IT managers, featuring case studies and trend spotting reports on IT project and service management issues.
itmanagement.earthweb.com
 
Management
International review on management research. Peer-reviewed, occasional. Ejournal, with tables of content, abstracts and full articles available on-line.
www.dmsp.dauphine.fr
 
Society for Human Resource Management
Advances the human resource profession to ensure that HR is recognized as an essential partner in developing and executing organizational strategy.
www.shrm.org
 
FEMA | Federal Emergency Management Agency
Agency of the US government tasked with Disaster Mitigation, Preparedness, Response & Recovery planning.
www.fema.gov
 
FT.com / Business Life
Account Manager. Recruiter: Financial Times. Part Qualified Management Accountant. Recruiter: Robert Half Finance & Accounting ...
www.ft.com
 
Small Business Management: Advice and Guides
Online guide to small business management. Find articles, advice and how-to guides.
www.entrepreneur.com
 
Academy of Management Online
Academy of Management: This is the official web site of the Academy of Management, with information on membership, journals, list servers, web sites, ...
www.aomonline.org
 
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Provides business management articles, webcasts, online learning, and books as well as conferences focused on leadership and decision making.
www.bettermanagement.com
 
Object Management Group
Distributed object computing industry standards group founded in 1989. Defined standards include CORBA and IIOP.
www.omg.org
 
Management Reading | Global Executive | Business | Economist.com
The one management thinker every educated person should read Nov 17th 2005 ... The story of Emerson's successful management process is fascinating. ...
www.economist.com
 
Emerald: Home
Publisher of journals in management and library and information services, engineering, applied science and technology.
www.emeraldinsight.com
 
Yale School of Management
The mission of the Yale School of Management is to educate global leaders for business and society. We pride ourselves in providing a hard-edged business ...
mba.yale.edu
 
US Office of Personnel Management
Official Federal Government site listing positions nationwide for special agent, federal police officers and related jobs.
www.usajobs.opm.gov
 
Waste Management
Waste Management is the #1 Residential and Commercial Trash Service Provider.
www.wm.com
 
US Office of Personnel Management
Includes federal jobs listings, upcoming events, numerous humans resources reports, news releases and additional official information.
www.opm.gov
 
 

 
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