Knowledge Management
Stage
3
Process
7
Responsible for capturing, distributing, and effectively using knowledge within an organization.
It is estimated that poor-knowledge sharing practices cost Fortune 500 companies $31.5 billion dollars annually!
The primary purpose of Knowledge Management is to improve efficiency by reducing the need to rediscover knowledge. Through effective knowledge management, organizations can:
- Decrease training time
- Reduce errors & redundancy
- Increase collaboration
- Improve customer experience
Types of Knowledge to Manage
Type | Description |
---|---|
Explicit | Information in tangible form such as books, newspapers, or articles. |
Tacit | Information that is difficult to capture in a tangible form like someone's perception of an experience or a feeling after a big event. |
Examples of Knowledge Management
- Training Agreements
- Q&As
- Content Management System
- Documentations
- FAQs
- Forums
- Webinars
- Chatbots
- etc.