Knowledge management systems among fastest growing areas of software investment

Knowledge management systems among fastest growing

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Knowledge management systems among fastest growing areas of software investment Information economy 37 percent U.S. labor force: knowledge and information workers 55 percent U.S. G D P from knowledge and information sectors Substantial part of a firm’s stock market value is related to intangible assets: knowledge, brands, reputations, and unique business processes Well-executed knowledge-based projects can produce extraordinary R O I Important Dimensions of Knowledge (1 of 2) Data Knowledge, and wisdom Tacit knowledge Explicit knowledge
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Dimensions of Knowledge Important dimensions of knowledge Knowledge is a firm asset. Knowledge has different forms. Knowledge has a location. Knowledge is situational. Important Dimensions of Knowledge (2 of 2) Knowledge-based core competencies Key organizational assets Knowing how to do things effectively and efficiently in ways others cannot duplicate is a prime source of profit and competitive advantage Example: Having a unique build-to-order production system Organizational learning Process in which organizations gain experience through collection of data, measurement, trial and error, and feedback The Knowledge Management Value Chain (1 of 3) Knowledge management Set of business processes developed in an organization to create, store, transfer, and apply knowledge Knowledge management value chain Each stage adds value to raw data and information as they are transformed into usable knowledge Knowledge acquisition
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Knowledge storage Knowledge dissemination Knowledge application The Knowledge Management Value Chain (2 of 3) Knowledge acquisition Documenting tacit and explicit knowledge Storing documents, reports, presentations, best practices Unstructured documents (e.g., e-mails) Developing online expert networks Creating knowledge Tracking data from T P S and external sources Knowledge storage Databases Document management systems Role of management The Knowledge Management Value Chain (3 of 3) Knowledge dissemination Portals, wikis E-mail, instant messaging Search engines, collaboration tools A deluge of information?
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Training programs, informal networks, and shared management experience help managers focus attention on important information. Knowledge application New business practices New products and services New markets Figure 11.1 The Knowledge Management Value Chain (DIAGRAM IN CHAP 11) 11 TH SLIDE Building Organizational and Management Capital: Collaboration, Communities of Practice, and Office Environments Developing new organizational roles and responsibilities for the acquisition of knowledge Chief knowledge officer executives Dedicated staff / knowledge managers Communities of practice (C O P s) Informal social networks of professionals and employees Activities include education, online newsletters, sharing knowledge Reduce learning curves of new employees Types of Knowledge Management Systems Enterprise-wide knowledge management systems General-purpose firm-wide efforts to collect, store, distribute, and apply digital content and knowledge Knowledge work systems (K W S) Specialized systems built for engineers, scientists, other knowledge workers charged with discovering and creating new knowledge
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