HR Professionals and the Law: The What, Why, and How of Awareness of Laws
Why HR Professionals Must be Aware of the Laws of the Land Like all entities, corporates are expected to function according to the laws of the land and they must also follow the various rules and regulations that are in vogue in the specific countries and regions in which they operate. In recent years, noncompliance […]
Why Auditing of the HR Function is Necessary and Important in the Present Times
What is Auditing, Why is it Important, and Its Continuing Relevance in the Present Times Auditing, or the process of checking and verifying the genuineness of processes, accounts, and functions of any entity are a necessary and important aspect of the organisational processes. Indeed, any entity that is registered as such, be it governmental, private, […]
Need and Importance of Employee Retention
Employee Retention refers to the techniques employed by the management to help the employees stay with the organization for a longer period of time. Employee retention strategies go a long way in motivating the employees so that they stick to the organization for the maximum time and contribute effectively. Sincere efforts must be taken to […]
Performance Development Planning and Individual Development through Performance Management
Performance management system of any organization aims at identifying the potential of development in the employees and optimally utilizing it for mutual satisfaction by providing the right support and guidance for doing well in the job. Gone are the days when performance management was simply regarded as a disciplinary and an assessment tool. Today the […]
How the HR Scorecard Helps Organizations to Actualize Change Management Initiatives
Organizational Change Initiatives Often Entail Human Resource Changes Organizational Change Initiatives need the involvement of the Human Resources (HR) function to succeed since such change initiatives are almost always dependant on personnel and human resources changes as well. Indeed, with the advent of the services sector wherein firms in the technology and financial services space […]
Knowledge management is the systematic capture of insights and experiences to enable an organization to identify, create, represent, and distribute knowledge. The insights and the experiences of individuals in the organization comprise the knowledge that is created in the organization and is embedded in the form of practices and processes.
Knowledge Management is an organizational function that concerns itself with the capture, storage, and dissemination of the knowledge that is inherent in the organization by using software or a Processual tool to capture, store, and disseminate knowledge. The objective of knowledge management is to enhance organizational competitiveness, improve performance, the sharing of lessons learnt, and the continuous improvement of the organizational processes. Typically, organizations have well-established tools and software to capture, store, and disseminate the learning’s that accrue because of the organizational processes.
Companies like 3M, Pfizer, and Infosys are thought to the world leaders in KM. This is because they have a clear set of guidelines for capturing knowledge after every project or product that they rolled out. For instance, these companies have guidelines for project managers to publish the learning’s that have accrued after a project and upload them into the KM system. Further, the bottom line imperative for a successful KM system is that employees should have a sharing mindset instead of an exclusivity mindset. What this means is that the employees must be willing to share their insight and knowledge with the other employees.
Apart from this, to actualize a successful KM system, hierarchy and barriers to sharing of knowledge must be eliminated. What this means is that a culture of openness must pervade the organization with no impediments to the flow of knowledge through the organizational arteries.
As discussed above, many organizations consider KM integral to their core processes. Indeed, KM has become so widely prevalent in organizational discourse that it is rare to find a large organization without a KM system in place. Further, the existence of a KM system has become necessary for organizations to achieve the SEI-CMM certification. Moreover, there is recognition that a KM system is necessary in order not to “reinvent the wheel”. What this means is that learning’s can be used to avoid duplication of work, and eliminate redundancies in the organizational processes. Apart from this, a KM system improves organizational communication and loosens up the rigid walls between different functions in the organization. Finally, a KM system is needed to ensure that past mistakes form the stepping-stones for future success.
As Francis Bacon said, Knowledge is Power. Hence, the sharing of knowledge is integral to an organizations’ success and this is the rationale and driving force behind having a well functioning KM system. In conclusion, this article has set the context for the subsequent exploration into the various dimensions and aspects of KM across the world and the resultant increase in competitiveness and strategic advantage.
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