October 23, 2023

The Importance and Solution of Corporate Knowledge Management

At present, with in-depth development of knowledge and information age, importance of knowledge management is becoming more and more prominent, and importance of knowledge management in enterprises is also increasing significantly. In past, initiatives have often failed because too much focus has been placed on primitive knowledge management tools and systems, while ignoring other areas. While knowledge management is still about human interaction, knowledge management systems have evolved over time from optional to a critical business component. Knowledge Management

Definition of Knowledge Management:

Knowledge Management is systematic management of knowledge assets of an enterprise or team to create value and meet tactical and strategic requirements; it includes maintaining and strengthening repository of knowledge, assessing it, sharing it, and improving and creating plans, processes, strategies and systems. Building on previous definitions of knowledge management, knowledge management involves understanding:

  • Where and in what form does knowledge exist;
  • What an organization needs to know;
  • How to promote a culture that promotes learning, sharing, and knowledge creation;
  • How to convey right knowledge to right person at right time;
  • How best to generate or acquire new relevant knowledge;
  • How to manage all of these factors to improve performance in line with organization's strategic goals and short-term opportunities and threats.
  • Why knowledge management works

    Why is knowledge management useful? It works because it views knowledge as a real asset, not as an intangible one. Through knowledge management, it enables an enterprise to better protect and use knowledge assets it knows, and to seek to improve and direct development of knowledge to meet its needs. In other words:

  • It helps companies learn from past mistakes and successes.
  • It makes better use of existing knowledge assets and reallocates them to areas that can benefit business, such as using knowledge from one department to improve or update products in another department, changing knowledge from past processes to create new solutions, etc. . .
  • This encourages a long-term focus on developing right competencies and skills and eliminating obsolete knowledge.
  • Increases innovative potential of enterprise.
  • This empowers companies to protect important knowledge from loss or duplication.
  • Thus, knowledge management should create/provide right tools, people, knowledge, structures (teams), culture, etc. to improve learning; must understand value and application of new knowledge created; ensure constant availability of right people; organizational knowledge. must be constantly assessed, applied, refined and optimized in conjunction with specific long-term and short-term factors.

    The tool presented here is knowledge management software for enterprises. It has three aspects: low cost, strong security and high efficiency. best help to enterprises in knowledge management.

    Low cost

    ● Promote knowledge discovery and build corporate knowledge assets.

    ● Avoid loss of knowledge caused by loss of staff and protect organization's core competitiveness.

    ● Reducing paper documents and processing costs, which greatly increases efficiency of knowledge use.

    ● Make repetitive work easier and more convenient, and reduce labor costs.

    Reliable protection

    ● Strictly manage document usage rights and security measures.

    ● Professional system management, various backup measures to prevent file loss.

    ● Comprehensively record operation log, cooperate with authority mechanism that does not affect each other, and avoid control conflicts.

    High efficiency

    ● With advanced search function, a variety of precise search methods can eliminate wastage caused by a large amount of time spent searching.

    ● Fully realize electronic document management, save energy and protect environment, and improve work efficiency.

    ● An efficient office platform that is not limited to one tool and one region.

    ● Co-authoring as a team can improve work efficiency. In past, knowledge management may have been an area that businesses have been reluctant to invest in, as cost of effective knowledge management can be high and extremely difficult to quantify. concrete return on investment, but it should now be clear that if enterprise adheres to this point of view, its further path will be narrowed. On contrary, if an enterprise attaches great importance to knowledge management, it can gain a competitive advantage in industry and even become an industry leader. So how can businesses move away from ineffective knowledge management? The answer is to start by choosing a good knowledge base tool.