K is for… Knowledge Management & Sharing

After a short break we are kicking off again with the A to Z of Skills.

This week we are picking up at the letter ‘K’.

K is for knowledge Management.

What is Knowledge Management?

There are numerous opinions on what is defined as Knowledge Management. In simple terms, it is intellectual assets –  knowledge, information and data.

Knowledge Management strategies are implemented in the workplace to identify, capture, structure and share an organisations intellectual assets to enhance the performance of both its employees and the organisation. By enhancing performance, it can also make the organisation more efficient, more profitable, and more competitive.

There are 3 key reasons why actively managing knowledge is important:

1. It can help to make decisions. Key decisions.
2. It builds a learning and sharing routine. Sharing knowledge can ensure that employees learn from experience and use and combine knowledge to improve and enhance performance.
3. It stimulates change and innovation.

Simply put: Knowledge can get you ahead!

Why is Knowledge Management and Knowledge Sharing important to employers?

Employers place value on intellectual assets, not just their physical assets. After all, they have invested in their people, their employees. The employ and retain individuals for their knowledge and the ability to utilise and share that knowledge.

Knowledge within a company should be managed and shared – key individuals can help with that but it is usually a case of the Employer and the Employees working together to put a system in place to allow for faster innovation by improving R&D resources and allowing others to build upon the ideas and work of others.

Knowledge management is not strictly an individual skill.  However, as an individual you should be expected to manage your own knowledge, share your knowledge and contribute.

A perfect example of what you can do as an individual is to create and use Knowledge Files.

Skill Development Plan

1. Work on your individual Learning and Knowledge (this should always be building and growing).
2. Share your knowledge and participate in your organisation’s KM system. Help it build, help it grow and maximise your own learning.
3. If there is not one in place suggest they set up a knowledge management system or if you are an SME or have not got a budget for it – Do it yourself!!

Action Point: Write a Knowledge Management Strategy.