{"id":5034,"date":"2019-06-10T07:19:44","date_gmt":"2019-06-10T12:19:44","guid":{"rendered":"http:\/\/flevy.com\/blog\/?p=5034"},"modified":"2020-12-20T22:03:19","modified_gmt":"2020-12-21T03:03:19","slug":"knowledge-management-101-a-practical-guide-for-beginners-and-practitioners","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/knowledge-management-101-a-practical-guide-for-beginners-and-practitioners\/","title":{"rendered":"Knowledge Management 101: A Practical Guide for Beginners and Practitioners"},"content":{"rendered":"

\u201cKnowledge has power because it controls access to opportunity and advancement.\u201d – Peter Drucker\"\"<\/p><\/blockquote>\n

The 21st century is undoubtedly the century of knowledge. The everyday usage of available advanced information and business technologies, and internet in business activities just show how rampant corporations are engaged in information exchange and Knowledge Management<\/a>.<\/p>\n

In the light of globalization, companies are now exposed to an unpredictable and complex competitive environment. Pressures are put on companies to adapt quickly to survive in the competitive market. The vital strategic resource is Knowledge. Companies have started to realize the major value of an intellectual resource. The central role of Knowledge Management in making a quality decision has never been emphasized as much as today.<\/p>\n

Intellectual resources and Knowledge are now contributing to revenue generation and increasing reputation. It has contributed to creating barriers to entry of potential competitors, increase customer loyalty<\/a>, and create innovation. In today\u2019s world, the success of the organization now depends largely on continual investment in learning and acquiring new Knowledge that creates new business and improves current performance.<\/p>\n

Understanding Knowledge Management<\/h2>\n

Knowledge Management (KM)<\/a> is a multidisciplinary approach to achieving organizational objectives
\nIt is an integrated approach to gathering, analyzing, storing, and sharing knowledge and information within an organization. It ensures that the right information is delivered to the appropriate place or person at the right time to enable informed decision making.<\/p>\n

An enterprise-wide ability must be created to transition data and information into critical knowledge. This is to ensure service stability, maintainability, and performance leading to organization wisdom.<\/p>\n

Knowledge Management evolves around 3 primary spheres which are closely integrated with each other.<\/p>\n

    \n
  1. Technology.<\/strong> Technology provides a secure central space where employees, customers, partners, and suppliers exchange information, share knowledge and guide each other and the organization to better decisions.<\/li>\n<\/ol>\n
      \n
    1. KM Processes.<\/strong> KM Processes include standard processes for knowledge contribution, content management, retrieval<\/li>\n<\/ol>\n
        \n
      1. People.<\/strong> This refers to the participation of team members in knowledge sharing, collaboration, and reuse to achieve business results.<\/li>\n<\/ol>\n

        At Flevy, we’ve developed a\u00a0Knowledge Management Primer<\/a>\u00a0that examines and discussed the purpose and nature of the key components of Knowledge Management. It demystifies the KM field by explaining in a precise manner the key concepts of KM tools, strategies, and techniques, and their benefits to organizations.<\/p>\n

        The quest to set up a Knowledge Management system requires an understanding of the essential elements integrated within the Knowledge Management Approach. This includes an understanding of the DIKW Model or Pyramid, the importance of Knowledge Assets, and the structure and priority of information based on its Knowledge Hierarchy<\/a>.<\/p>\n

        What is Knowledge Hierarchy<\/h2>\n

        \"\"<\/a><\/p>\n

          \n
        1. Operational Knowledge<\/strong>
          \nThe focus of Operational Knowledge is to gain operational effectiveness. It helps organizations understand how service performance, compliance, and overall IT operational effectiveness is managed.<\/li>\n<\/ol>\n
            \n
          1. Tactical Knowledge<\/strong>
            \nTactical Knowledge is focused on service value. It helps organizations understand how to manage and ensure service value.<\/li>\n<\/ol>\n
              \n
            1. \u00a0Strategic Knowledge<\/strong>
              \nStrategic Knowledge is focused on               benchmarking<\/a> and advanced analytics. It helps organizations understand the effects of operational decisions.<\/li>\n<\/ol>\n

              In the Knowledge Hierarchy, it must ensure that resulting knowledge is well defined, specific, comprehensive, and with high average quality information.<\/p>\n

              Interested in gaining more understanding of Knowledge Management<\/a>? You can learn more and download an editable PowerPoint about Knowledge Management (Primer)<\/strong> here<\/a> on the Flevy documents marketplace<\/a>.<\/p>\n

              Do You Find Value in This Framework?<\/h2>\n

              You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library<\/a>. FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:<\/p>\n

              “My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”<\/p>\n

              \u2013 Bill Branson, Founder at Strategic Business Architects<\/p>\n<\/blockquote>\n

              “As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value.”<\/p>\n

              \u2013 David Coloma, Consulting Area Manager at Cynertia Consulting<\/p>\n<\/blockquote>\n

              “As a small business owner, the resource material available from FlevyPro has proven to be invaluable. The ability to search for material on demand based our project events and client requirements was great for me and proved very beneficial to my clients. Importantly, being able to easily edit and tailor the material for specific purposes helped us to make presentations, knowledge sharing, and toolkit development, which formed part of the overall program collateral. While FlevyPro contains resource material that any consultancy, project or delivery firm must have, it is an essential part of a small firm or independent consultant’s toolbox.”<\/p>\n

              \u2013 Michael Duff, Managing Director at Change Strategy (UK)<\/p>\n<\/blockquote>\n

              “FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight \u2013 it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”<\/p>\n

              \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p>\n<\/blockquote>\n

              “Several times a month, I browse FlevyPro for presentations relevant to the job challenge I have (I am a consultant). When the subject requires it, I explore further and buy from the Flevy Marketplace. On all occasions, I read them, analyze them. I take the most relevant and applicable ideas for my work; and, of course, all this translates to my and my clients’ benefits.”<\/p>\n

              \u2013 Omar Hern\u00e1n Montes Parra, CEO at Quantum SFE<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

              \u201cKnowledge has power because it controls access to opportunity and advancement.\u201d – Peter Drucker The 21st century is undoubtedly the century of knowledge. The everyday usage of available advanced information and business technologies, and internet in business activities just show how rampant corporations are engaged in information exchange and Knowledge Management. In the light of… Knowledge Management 101: A Practical Guide for Beginners and Practitioners<\/span><\/a><\/p>\n","protected":false},"author":111,"featured_media":5062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[84,85],"tags":[1645,1643,1644],"class_list":["post-5034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information-technology","category-organization","tag-knowledge-hierarchy","tag-knowledge-management","tag-knowledge-management-primer"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/5034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/111"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=5034"}],"version-history":[{"count":9,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/5034\/revisions"}],"predecessor-version":[{"id":8127,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/5034\/revisions\/8127"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/5062"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=5034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=5034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=5034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}