Knowledge management (KM) is the process of capturing, sharing, filtering, optimising, using and managing knowledge and information. And yes, you should have a strategy! Even a short section in your business plan will at least get you thinking about the topic. A good KM strategy will enhance the profitability, efficiency and resilience of a business.
Some of the drivers for knowledge management could be:
Your KM strategy should outline how you to align, focus, test and drive KM efforts. A KM strategy should flow out from the business plan objectives and increase awareness and understanding of how KM will assist in achieving company goals from the perspective of each team member.
The outcomes of a knowledge management strategy typically consist of:
A good place to start with developing a KM strategy is to review the lessons learnt over the last few years in delivering products and services to clients. Both the things that went well, and not so well, provide valuable insights into process improvement, knowledge holes and the potential upskilling required within your business. Get creative!