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Knowledge management (KM) involves organizing and sharing important knowledge wherever needed to maximize its value, focusing on intellectual capital like employees' collective knowledge. Drivers for KM include increasing complexity, market volatility, and speed of responsiveness due to factors like high turnover reducing experience. Effective KM systems leverage technologies and social mechanisms to discover, capture, share, and apply organizational knowledge to help decision-makers navigate these challenges.

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20 views

KMSPquickreview1 5

Knowledge management (KM) involves organizing and sharing important knowledge wherever needed to maximize its value, focusing on intellectual capital like employees' collective knowledge. Drivers for KM include increasing complexity, market volatility, and speed of responsiveness due to factors like high turnover reducing experience. Effective KM systems leverage technologies and social mechanisms to discover, capture, share, and apply organizational knowledge to help decision-makers navigate these challenges.

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We take content rights seriously. If you suspect this is your content, claim it here.
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KMPS

Quick review
What is Knowledge Management (KM)?
• Knowledge management (KM) may simply be defined
as doing what is needed to get the most out of
knowledge resources.
• In general, KM focuses on organizing and making
available important knowledge, wherever and whenever
it is needed.
• KM is also related to the concept of intellectual capital.
Knowledge = Enterprises’ most vital resources
• Collective knowledge residing in the minds of the
organization’s employees, customers, and vendors
• Many benefits to learning how to effectively manage
organizational knowledge [Davenport & Prusak1998]
• Leveraging core business competencies
• Accelerating innovation and time to market
• Improving cycle times and decision making
• Strengthening organizational commitment
• Building sustainable competitive advantage
Forces driving knowledge management
1. Increasing Domain Complexity
• Intricacy of internal and external processes, increased competition, and
the rapid advancement of technology all contribute to increasing domain
complexity.
2. Accelerating Market Volatility
• The pace of change, or volatility, within each market domain has
increased rapidly in the past decade.
3. Intensified Speed of Responsiveness
• The time required to take action based upon subtle changes within and
across domains is decreasing.
4. Diminishing Individual Experience
• High employee turnover rates have resulted in individuals with decision-
making authority having less tenure within their organizations than ever
before.
KM Systems
• Today’s decision maker faces the pressure to make better
and faster decisions in an environment characterized by a
high domain complexity and market volatility, even in light of
• lack of experience typically from the decision-maker
• outcome of those decisions could have such a considerable impact on
the organization
• Information technology facilitates sharing as well as
accelerated growth of knowledge.
• Information technology allows the movement of information
at increasing speeds and efficiencies.
“Today, knowledge is accumulating at an ever increasing rate. It is
estimated that knowledge is currently doubling every 18 months and, of
KM Systems course, the pace is increasing... Technology facilitates the speed at which
knowledge and ideas proliferate” Bradley [1996]

• Knowledge management mechanisms are organizational or


structural means used to promote knowledge management.
• The use of leading-edge information technologies (e.g., Web-
based conferencing) to support KM mechanisms enables
dramatic improvement in KM.
• knowledge management systems (KMS): the synergy between
latest technologies and social/structural mechanisms
KM Systems Classification
• Based on observations on the KM systems implementations:
• Knowledge Discovery Systems
• Knowledge Capture Systems
• Knowledge Sharing Systems
• Knowledge Application Systems
• Artificial intelligence and machine learning technologies
• play an important role in the KM processes, enabling the
development of KMS
• Experience management
• basically experience develops over time, to coalesce into more
general experience, which then combines into general knowledge
Data, Information, Knowledge
• Knowledge is information that helps to
• produce information from data, or
• produce more valuable information from
less valuable information
• Epistemology is a very old field
with a long history.
• There are many classifications
and characterizations of types of
knowledge, e.g.:
• individual, social, causal,
conditional, relational and
pragmatic
• embodied, encoded and
procedural
• etc.
• We must know what knowledge is,
if we wish to manage it effectively!
Different
types of
knowledge
KM Processes, Mechanisms, and Technologies
Knowledge and Expertise
• Expertise can be defined as knowledge of higher quality
• An “expert” is one who is able to perform a task much better than others
• Often, an expert possesses many different types and levels of knowledge
• Expertise is within a domain
• Domains can be of various degrees of sophistication
• expert brain surgeon > medical intern
• expert mathematician > secondary school math student
• expert bus driver > novice driver
• AI expert systems attempt to mimic expertise
• varying degrees of success, heavily depending on:
• Domain
• type of expertise
KM Management Solutions
Cases: Valuation of Intellectual Capital
• Microsoft acquired Yahoo?
• 2008 news - https://news.microsoft.com/2008/02/01/microsoft-proposes-acquisition-of-
yahoo-for-31-per-share/
• 2013 news - https://www.businessinsider.com/jerry-yang-laughs-last-five-years-later-yahoos-
share-price-finally-exceeds-microsofts-final-offer-2013-10
• 2016 news - https://www.cnbc.com/2016/03/28/microsoft-yahoo-talks-now-versus-last-
time-around.html
• 2016 news - https://www.marketwatch.com/story/microsoft-finally-buys-yahoo-but-its-
called-linkedin-2016-06-13
• 2017 news - https://www.onmsft.com/news/its-finally-over-yahoo-is-acquired-not-by-
microsoft-but-by-verizon
• Toyota https://global.toyota/en/mobility/technology/toyota-technical-review/
• BMW Automotive sensors and driver assistance systems | BMW.com
• Xerox Services https://www.xerox.com/en-in/services
How contingency factors determine KM solutions?

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