Manage your information and knowledge.

Develop knowledge management strategies aligned with your purpose and goals.

Practical knowledge is the most powerful weapon you can have to solve problems and frustrations. Therefore, effective knowledge management strategies generally focus on the issues that drive the organisation.

These issues may include customer relationship management, service delivery, customer expectations, risk management, policy excellence or strategic advice. The strategy must identify the fundamental problems, frustrations, want and need of the various market segments. It also needs to address the wants, needs and issues within the organisation. The strategy must then provide a framework for addressing these issues. Finally, develop a process for handling ‘Big Data”.

Derive knowledge strategies with input from a knowledge management audit. Knowledge strategies aim to develop the organisation’s core capabilities through the conduct of various knowledge management initiatives. Many have now recognised the importance of innovation in ensuring long-term growth and even survival. In addition, they have recognised the need for better information and knowledge to support their decision making.

It is particularly true in fast-moving industry sectors, where constant change is disrupting operations. It is where the speed of knowledge becomes an integral part of strategic thinking and strategy development.

Consider your organisation’s culture

Culture often has a profound impact on your capacity to produce knowledge-related outputs from a knowledge management audit. Initiatives may aim to change an organisation’s culture for improved knowledge sharing and knowledge creation. It often entails shifts from internal competition to collaboration, risk-taking and building trust within and between organisations.

Ensure that appropriate knowledge management activities are approved. Sound governance requires that knowledge management activities focus on achieving organisational goals and align with stated values and codes of conduct. Similarly, they should focus on the fulfilment of the Business Plans and support the Business Model.

Knowledge needs to be available according to risk and reward.

Available knowledge can be significantly impacted outcomes. At the same time, there are numerous accounting and benchmarking standards for measuring the financial performance of an organisation. But, unfortunately, there are few recognised standards for measuring intangible or knowledge resources.

However, some measurement tools are emerging, such as the Balanced Scorecard, Knowledge Capital and Economic Value-Added systems. Some of these are gaining popularity but are a little expensive to buy and manage for smaller organisations. Make use of these technologies by outsourcing to consultants with the appropriate software packages.

Where does the customer fit?

A challenging issue is grappling with how to use knowledge management to improve customer service significantly. The idea of making a personalised, relevant communication based on a customer’s attributes and past activity at an individual level can be challenging. 

Create a marketing persona that represents customers allowing you to focus knowledge management and content marketing efforts better.

A knowledge management audit coupled with the new technologies can changing the entire sales and buying process.  The old way of researching, coming up with a compelling proposition, and marketing it with a campaign has changed. Today it’s possible to develop modular offers with multiple components custom-built at an individual customer level.

Knowledge will maximise the benefit and attractiveness to the customer at the time it’s most relevant. So, for example, just using a name in addressing a communication to an individual no longer qualifies as personalisation.

Some of the defining factors might include

  • Purpose and activities of the organisation.
  • Overall strategic direction.
  • Your marketplace, its size, remoteness, language.
  • Speed to market.
  • Organisational culture.
  • The size of the organisation.
  • Geographic spread.
  • Educational levels of market segments.
  • Staff skills and experience.
  • Organisational history.
  • Available resources.

Each organisation has a unique set of requirements to be managed. As a result, there is no “one approach fits all”. In reality, most organisations have well-meaning but poorly targeted knowledge management activities. Activities that failed didn’t address a problem, frustration, want or need of either the customer base or the other stakeholders within the organisation.

Quotable Quotes

“Practical business information knowledge will help to provide you with both insights and foresight to minimise the impact of adversity”. Peter Sergeant

“Your information and knowledge must be harmonising with the people you are dealing with if you want to get your message across”.  Peter Sergeant

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