PERFORMANCE OF KNOWLEDGE BASED ORGANIZATION & THEIR AUDITING METHODS
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The document discusses knowledge management (KM) in organizations, emphasizing its role in fostering innovation while highlighting challenges like inefficient knowledge sharing that can hinder performance. It outlines methods for auditing organizational knowledge capabilities, including knowledge needs analysis, inventory analysis, flow analysis, and mapping. Overall, effective KM is crucial for organizations to identify and leverage their knowledge assets to enhance competitiveness and drive innovation.
PERFORMANCE OF KNOWLEDGE BASED ORGANIZATION & THEIR AUDITING METHODS
- 1. SUBJECT: KNOWLEDGE MANAGEMENT ASSIGNMENT ON: PERFORMANCE OF KNOWLEDGE BASED ORGANIZATION & THEIR AUDITING METHODS SUBMITTED TO: MAM SHABINA SUBMITTED BY: VARDA SHAIKH 1310-BBA027
- 2. KNOWLEDGE BASED ORGANIZATION: PERFORM WELL IN TERMS OF INNOVATION The basic purpose of knowledge management is to bring innovation and the innovation brings value for the business. The link between km and innovation is necessary because Km basically helps to fill the knowledge gap which ultimately brings the innovation into the organization. ACCORDING TO A RESEARCH: 75% CEO’s of fastest growing organizations claim that their strongest weapon to compete in market is their innovative products and processes that can be possible only when they successfully implement the km system in their organizations. The basic types of km are: 1. Explicit knowledge 2. tacit knowledge Through knowledge management, organization can identify their tacit knowledge which they usually do not know before. Knowledge management also helps the organization to articulate tacit knowledge in the form of explicit knowledge and this is a strong base to bring innovation. Furthermore, through knowledge management activities, organizations can find out the distance of knowledge from inside and outside the organizations and KM is the only tool through which we can reduce the neglected distance. Knowledge management focuses on this neglected area because in this competitive era organizations compete not only on the basis of efficiency and effectiveness but its success also depends upon how particular organizations identify, gather, manage, integrate, share and disseminate relevant knowledge to their human capital to bring innovation. . PERFORM LESS IN TERMS OF EFFICIENCY: Knowledge sharing is a crucial part of making knowledge management system work, but most organizations fails to share the proper knowledge with employees and managers, and it in turn costs the company.
- 3. ACCORDING TO FORBES MAGAZINE: Fortune 500 companies are losing tens of billions of dollars per year just because of neglecting in sharing the knowledge. Extracting information from workers who possess valuable company knowledge can be a difficult and lengthy process. Knowledge management systems are complex and hard to understand for the average worker and training workers to use knowledge management systems. When employees fail to collect and input data into knowledge management systems properly, the organization cannot take full advantage of the system's major benefits, ultimately reduce the efficiency. METHODS TO AUDIT KNOWLEDGE IN ORGANIZATIONS: The knowledge audit is an assessment of an organization’s knowledge capabilities. It identifies the gap between available knowledge and what’s needed based on the organization’s strategic objectives. A knowledge audit should start with strategic planning to identify current and future priorities, as well as a SWOT analysis to examine the organization’s Strengths, Weaknesses, Opportunities, and Threats. The following methods are consistent with the generalized knowledge life-cycle suggested by Birken Shaw and Sheehan (2002), these are: 1. Knowledge Needs analysis 2. Knowledge Inventory analysis 3. Knowledge Flow analysis 4. Knowledge Mapping
- 4. 1. KNOWLEDGE NEEDS ANALYSIS (K-NEEDS ANALYSIS): The major goal of this task is to identify precisely what knowledge the organization, its people and team possess currently and what knowledge they would require in the future in order to meet their objectives and goals. Knowledge need analysis can help any organization to develop its future strategy. 2. KNOWLEDGE INVENTORY ANALYSIS (K-INVENTORY ANALYSIS): Knowledge inventory is used to identify and locate knowledge assets and resources throughout the entire organization. This process involves counting, indexing, and categorizing of corporate tacit and explicit knowledge. 3. KNOWLEDGE FLOWS ANALYSIS (K-FLOWS ANALYSIS): Knowledge flow analysis looks at how knowledge resources move around the organization, from where it is to where it is needed. In other words, it is used to determine how people in an organization find the knowledge they need, and how do they share the knowledge they have, and some of the barriers to effective. 4. KNOWLEDGE MAPPING (K-MAPPING): K-Map shows the importance and the relationships between knowledge stores and the dynamics of knowledge creation and storage. K-Map portrays the sources, flows, constraints and sinks (losses or stopping points) of knowledge within an organization.
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