Knowledge Management @ Quizent Technologies Pvt. Ltd.
Why do we need knowledge management?
Knowledge management is based on the idea that an organization’s most valuable resource is the knowledge of its people. Knowledge management recognizes that today nearly all jobs involve "knowledge work" and so all staff are "knowledge workers" to some degree. This means that creating, sharing and using knowledge are among the most important activities of nearly every person in every organization. It is easy to see the importance of knowledge in the IT sector, because each and every person basis on their designation needs different level of knowledge to do their job effectively.
Example with reference of (Quizent Technologies Pvt Ltd)
Almost everything we do in the Quizent Technologies is purely based on knowledge. If we do not constantly update and renew our knowledge, share our knowledge, and then use that knowledge to do things differently and better, then our people, our organizations and our customers will ultimately suffer. As the great words "'Customer always thinks beyond the level", Before approaching to us, customers have different perspectives regarding their projects, they expect a lot from us. At Quizent Technologies, our caliberd team transforms their expectation to visible one within stipulated time period, which make them delighted. We transform their visions by harvesting the vast knowledge of the people in the Quizent Technologies, and using it to best effect.
Types of knowledge: explicit and tacit
Knowledge in organizations is often classified into two types: explicit and tacit.
1. Explicit knowledge
It is a kind of knowledge that can be captured and written down in documents or databases. Examples of explicit knowledge include instruction manuals, written procedures, best practices, lessons learned and research findings. Explicit knowledge can be categorized as either structured or unstructured. Documents, databases, and spreadsheets are examples of structured knowledge, because the data or information in them is organized in a particular way for future retrieval. In contrast, e-mails, images, training courses, and audio and video selections are examples of unstructured knowledge because the information they contain is not referenced for retrieval.
2. Tacit knowledge
It is a kind of the knowledge that people carry in their heads. It is much less concrete than explicit knowledge. It is more of an "unspoken understanding" about something, knowledge that is more difficult to write down in a document or a database. An example might be, knowing how to ride a bicycle - you know how to do it, you can do it again and again, but could you write down instructions for someone to learn to ride a bicycle? Tacit knowledge can be difficult to access, as it is often not known to others. In fact, most people are not aware of the knowledge they themselves possess or of its value to others. Tacit knowledge is considered more valuable because it provides context for people, places, ideas and experiences. It generally requires extensive personal contact and trust to share effectively.
Knowledge Life Cycle
Knowledge in business can be seen to have a life cycle of its own.
Fig -1: The Knowledge Life Cycle
A functioning knowledge management system follows six steps in a cycle. The cycle works as followsa) Create Knowledge:
Knowledge is created as people determine ways of doing things or develop know-how. Sometimes external knowledge is brought in.
b) Capture Knowledge:
New knowledge must be identified as valuable and be represented in a reasonable way.
c) Refine Knowledge:
New knowledge must be placed in context so that it is actionable. This is where human insights must be captured.
d) Store knowledge:
Useful knowledge must then be stored in a reasonable format in acknowledge repository so that others in the organization can access it.
e) Manage knowledge:
Like a library, the knowledge must be kept current. It must be reviewed to verify that it is relevant and accurate.
f) Disseminate knowledge:
Knowledge must be made available in a useful format to anyone in the organization who needs it, anywhere and anytime.
Benefits of Knowledge Management System
Creating an enterprise-wide knowledge management system is not a simple task. However, the benefits of a well-designed system are immense:
a) Awareness
Everyone knows where to go to find the organization's knowledge, saving people time and effort.
b) Accessibility
All individuals can use the organization's combined knowledge and experience in the context of their own roles.
c) Availability
Knowledge is usable wherever it is needed whether from the home office, on the road or at the customer's side. This enables increased responsiveness to customers, partners and coworkers
d) Timeliness •
Knowledge is available whenever it is needed, eliminating time-wasting distribution of information "just in case" people are interested.
HR vs. Knowledge Management
Knowledge Management is now an emerging trend within human resource management. While the involvement of IT is critical to any successful KM program, it is becoming increasingly apparent that HR plays an equal, if not more important, role in designing a system to share employee knowledge. The establishment of a sophisticated infrastructure that allows knowledge to be collected and disseminated across an organization can only benefit those who understand the advantages it provides. HR managers who realize the value of KM can provide the cultural direction needed to ensure success. Many researches proves that employees will not share knowledge and expertise until they believe they will be rewarded for it. To maximize the value of knowledge sharing, employees must understand the following:
• The benefits that sharing knowledge and experience provide to them as individuals. • The advantages that will be gained to the organization as a whole.
• Senior management recognizes the sharing of knowledge,
• Knowledge sharing has become an integral part of every employee’s daily function,
• A compensation/reward system is in place to recognize and promote employees who adopt that new behavior
Nowadays many companies endeavoring to develop a knowledge sharing culture. If verbalizing about investment, many companies consider that unlike fixed assets, the intellectual assets contained in the mind of employs are the only asset that gains value every time they’re used.
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