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What is Knowledge Management? Prof. Elaine Ferneley + Prof. Andrew Basden What is Knowledge Management? Prof. Elaine Ferneley + Prof. Andrew Basden

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Presentation on theme: "What is Knowledge Management? Prof. Elaine Ferneley + Prof. Andrew Basden What is Knowledge Management? Prof. Elaine Ferneley + Prof. Andrew Basden"— Presentation transcript:

1 What is Knowledge Management? Prof. Elaine Ferneley + Prof. Andrew Basden What is Knowledge Management? Prof. Elaine Ferneley + Prof. Andrew Basden

2 Prof Elaine Ferneley Objectives nWhat is Knowledge Management (KM)? nWhat are the driving forces? nRole of KM in today’s organization nKnowledge nKnowledge Management Systems nEffective Knowledge Management

3 Prof Elaine Ferneley Knowledge as Key Resource n“Knowledge has become the key resource, for a nation’s military strength as well as for its economic strength… is fundamentally different from the traditional key resources of the economist – land, labor, and even capital…we need systematic work on the quality of knowledge and the productivity of knowledge … the performance capacity, if not the survival, of any organization in the knowledge society will come increasingly to depend on those two factors” [Drucker,1994]

4 Prof Elaine Ferneley A world of rapidly growing knowledge …. > One week in 2007 A person’s lifetime in 18th century

5 Prof Elaine Ferneley What is Knowledge Management? nKnowledge management (KM) may be defined simply as doing what is needed to get the most out of knowledge resources. nKM focuses on organizing and making available important knowledge, wherever and whenever it is needed. nKM is also related to the concept of intellectual capital.

6 Prof Elaine Ferneley Skryme (1999) Knowledge Management Definition Knowledge Management is the explicit and systematic management of vital knowledge and associated processes of creation, organization, diffusion, use and exploitation nexplicit: knowledge is explicitly recognized; nsystematic: too important to be left to chance; nvital: focus on what is important; nprocesses: encourage knowledge creating environment.

7 Prof Elaine Ferneley Why we need Knowledge Management now ( nMarketplaces are increasingly competitive and the rate of innovation is rising. nReductions in staffing create a need to replace informal knowledge with formal methods. nCompetitive pressures reduce the size of the work force that holds valuable business knowledge. nThe amount of time available to experience and acquire knowledge has diminished. nEarly retirements and increasing mobility of the work force lead to loss of knowledge.

8 Prof Elaine Ferneley nMost of our work is now information based. nOrganizations compete on the basis of knowledge. nProducts and services are increasingly complex, endowing them with a significant information component. nThe need for life-long learning is an inescapable reality. nIn brief, knowledge and information have become the medium in which business problems occur. As a result, managing knowledge represents the primary opportunity for achieving substantial savings, significant improvements in human performance, and competitive advantage. Why we need Knowledge Management now (

9 CreatingCapturingSharingCapitalising KnowledgeKnowledge Knowledge Management Components This course will focus on these Knowledge Management Components

10 Prof Elaine Ferneley Information & Communication Technology Knowledge Management The composite management of: ProcessesInformation People

11 Prof Elaine Ferneley What are Knowledge Management “Systems” ? mechanisms nSocial/Structural mechanisms (e.g., mentoring and retreats, etc.) for promoting knowledge sharing. information technologies nLeading-edge information technologies (e.g., Web-based conferencing) to support KM mechanisms. synergy nKnowledge management systems (KMS): the synergy between social/structural mechanisms and latest technologies.

12 Prof Elaine Ferneley THE KNOWLEDGE ORGANIZATION nThe middle layer addresses the KM life cycle nA knowledge organization derives knowledge from customer, product, and financial knowledge. Also from financial practices nIndicators of knowledge: thinking actively and ahead, not passively and behind nUsing technology to facilitate knowledge sharing and innovation Collect Organize Refine Disseminate Culture Leadership Technology Intelligence Maintain Competition Knowledge Management Process KM Drivers Knowledge Organizatio n Create

13 Prof Elaine Ferneley Data, Information, and Knowledge nData: Unorganized and unprocessed facts; static; a set of discrete facts about events nInformation: Aggregation of data that makes decision making easier nKnowledge is derived from information in the same way information is derived from data; it is a person’s range of information

14 Prof Elaine Ferneley The DIKW Pyramid

15 Prof Elaine Ferneley Some Examples nData represents a fact or statement of event without relation to other things. uEx: It is raining. nInformation embodies the understanding of a relationship of some sort, possibly cause and effect. uEx: The temperature dropped 15 degrees and then it started raining. nKnowledge represents a pattern that connects and generally provides a high level of predictability as to what is described or what will happen next. uEx: If the humidity is very high and the temperature drops substantially the atmospheres is often unlikely to be able to hold the moisture so it rains. nWisdom embodies more of an understanding of fundamental principles embodied within the knowledge that are essentially the basis for the knowledge being what it is. Wisdom is essentially systemic. uEx: It rains because it rains. And this encompasses an understanding of all the interactions that happen between raining, evaporation, air currents, temperature gradients, changes, and raining.

16 Prof Elaine Ferneley Learning Learning nLearning by experience: a function of time and talent nLearning by example: more efficient than learning by experience nLearning by sharing, education. nLearning by discovery: explore a problem area.

17 Prof Elaine Ferneley Mechanistic approaches to KM nMechanistic approaches to knowledge management are characterized by the application of technology and resources to do more of the same better. nThe main assumptions of the mechanistic approach include: uBetter accessibility to information is a key, including enhanced methods of access and reuse of documents (hypertext linking, databases, full-text search, etc.) uNetworking technology in general (especially intranets), and groupware in particular, will be key solutions. nIn general, technology and sheer volume of information will make it work.

18 Prof Elaine Ferneley Cultural/behavioristic approaches to KM nCultural/behavioristic approaches, with substantial roots in process re- engineering and change management, tend to view the "knowledge problem" as a management issue. Technology — though ultimately essential for managing explicit knowledge resources — is not the solution. These approaches tend to focus more on innovation and creativity (the "learning organization") than on leveraging existing explicit resources or making working knowledge explicit. nAssumptions of cultural/behaviouristic approaches often include: uOrganizational behaviours and culture need to be changed … dramatically. In our information-intensive environments, organizations become dysfunctional relative to business objectives. uOrganizational behaviours and culture can be changed, but traditional technology and methods of attempting to solve the "knowledge problem" have reached their limits of effectiveness. A "holistic" view is required. Theories of behaviour of large-scale systems are often invoked. uIt’s the processes that matter, not the technology. uNothing happens or changes unless a manager makes it happen.

19 Prof Elaine Ferneley Classification of Knowledge Management Systems uKnowledge Discovery Systems uKnowledge Capture Systems uKnowledge Sharing Systems uKnowledge Application Systems As this course is an IS course we will focus on these Knowledge Management Technologies

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