Knowledge is power
It may be fashionable to denigrate the role of IT in knowledge management but few initiatives have succeeded without it. However, for all the benefits, a hasty implementation can create more problems than it solves writes Dr Bill Fraser
Knowledge Management (KM) can take many forms, but it is ultimately about achieving competitive advantage through developing capabilities for better exploiting and increasing a firm’s existing expertise. When successful, it leads to faster service, increased client satisfaction, higher revenues, lower costs and happier staff. It involves a combination of people, process and information technology (IT) and although it may be fashionable to claim that KM is about people and not technology, it is difficult to imagine KM without IT. Most successful KM initiatives have been based on IT developments. Nevertheless, technology can also undermine KM, resulting in KM initiatives not delivering the benefits promised, a considerable waste of time and money, and a damaging effect on morale. There are a number of common pitfalls and I will discuss six that are particularly prevalent.
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