In a knowledge-driven economy, an organization's knowledge is a key asset and resource. Knowledge Management (KM) has evolved over the past decade into a critical function that leverages an organization's knowledge assets to increase organizational leanness, productivity, and competitiveness. In the words of Robert Buckman, CEO of Buckman Labs and 3-time winner of the Most Admired Knowledge Enterprise (MAKE) award: "In a knowledge-driven marketplace, knowledge sharing...is what separates the leaders from the also-rans."
The good news is that all organizations have already practiced some form of knowledge management. Carla O'Dell, president of the American Productivity and Quality Center (APQC), describes KM as "a management mind-set that includes building on past experiences (libraries, databanks, smart people) and creating new vehicles for exchanging knowledge (knowledge-enabled intranet sites, communities of practice, networks)."* KM as a formal methodolgy evolved from best practices in good business management. * J.Grayson and C.O'Dell, "If Only We Knew What We Know: The Transfer of Internal Knowledge and Best Practice," by September 1998
The case for Knowledge Management
The typical knowledge worker spends approximately 30% of each workday searching for information. S.Feldman and C.Sherman, The High Cost of Not Finding Information, An IDCWhite Paper. International Data Corporation, July 2001
60% of employees spend up to 8 hours per week locating information needed to perform work activities. Knowledge Management for SharePoint webinar, WSN Insight poll. Wall Street Network, Inc., January 2012
The vast majority of nonprofits operate without the benefit of good information and tools to determine future strategies and readjust when they are off course. M.Morino, Leap of Reason: Managing to Outcomes in an Era of Scarcity. Venture Philanthropy Partners, 2011