Knowledge Management - KPMG

Knowledge Management - KPMG - K P M G M a n a g e m e n t C...

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Unformatted text preview: K P M G M a n a g e m e n t C o n s u l t i n g Knowledge Management Research Report 1998 There is little doubt that we have entered the knowledge economy where what organisations know is becoming more important than the traditional sources of economic power capital, land, plant and labour which they command. The value attributed by stock markets to companies in sectors such as software development and biotechnology far outweighs their tangible assets. Even in industries as traditional as manufacturing, companies are obtaining competitive advantage through technological know-how, product design skills, problem-solving expertise, personal creativity and the ability to innovate. Knowledge management is the discipline of capturing these knowledge-based competencies, storing and disseminating them for the benefit of the organisation as a whole. Much has been written about knowledge management. We wanted to find out what was really happening. We wanted to know exactly how far companies have gone in launching knowledge management initiatives and how strategic their approaches are. This report is the result of a survey carried out by Harris on our behalf. It shows that knowledge management is not a fad and is being taken seriously. It shows that companies are having difficulty in tackling knowledge management, but for those which are advanced in implementing knowledge management there are real benefits to be reaped. As we said in The Power of Knowledge: A Client Business Guide , Knowledge management is not an abstract proposition for the future... it is a vital aspect of world-class management in todays business environment. The survey findings set out in this report fully endorse that view. David Parlby Partner KPMG Management Consulting foreword contents Foreword 1 Executive summary 5 Introduction and methodology 6 Current state of knowledge management 7 Cost of ignoring human knowledge 8 Failure to store critical knowledge effectively 11 Failure to exploit technological infrastructure 12 Need for vision and strategy 16 Investing in knowledge 18 Full benefits for early adopters of knowledge management 20 The future Knowledge Management Research Report 1998 1 Knowledge management is here to stay. We asked respondents for their views on knowledge management. Only 2% of respondents considered knowledge management to be a fad that would soon be forgotten this contrasts with the results of a survey last year* in which almost a third of respondents thought knowledge management a fad. One in 10 said knowledge management was transforming the way their organisation did business and 43% of respondents considered their organisation to have a knowledge management initiative in place....
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This note was uploaded on 02/23/2012 for the course ACCT 1223 taught by Professor Jackson during the Spring '10 term at Minnesota.

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Knowledge Management - KPMG - K P M G M a n a g e m e n t C...

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