Wednesday, 19 November 2014

Where are we headed? How are we going get there? - KM and strategy development

Most successful organisations develop and follow strategies. 
Opinions differ on the components needed for an effective strategy but one well-known perspective is that of the US military, for whom a strategy must cover:
·        Ends – why are we doing this?
·        Ways – how are we going to achieve our aims?
·        Means – what resources will we use?
Companies can choose any number of objectives but Knowledge management (KM) can inform both Ways and Means thus:
·        Ways
o   Increased collaboration
o   Innovation
o   Quality improvements
o   Higher productivity
o   Reduced costs
·        Means
Knowledge management (KM) can and should inform an organisation’s strategy.  Indeed, at Knoco we believe every company should develop a KM strategy to support and enable its overall business strategy.
A KM strategy should include the following elements:
·        A vision – what will the future organisation’s use of KM look like?
·        The scope of KM – what do we mean by KM and where will it apply? (i.e. it’s not document or information management, although those are related disciplines)
·        The business drivers – why are we doing this?  Examples might include cost reduction, new product development, mergers and acquisitions, movement into new markets etc.
·        Opportunities and risks – what initiatives are underway to which KM can be aligned?  What potential threats exist?
·        The value proposition – what is the size of the prize?  How much value can be gained?
·        The critical knowledge areas – where should we start?
·        Stakeholder management – who should be part of this and how do we gain and maintain their support?
More information about Knoco’s KM strategy work can be found on the Knoco website here.

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