Chinmay A.

Location:

Melbourne

Member since:

July 23, 2013

Networks

How do you feel a lack of knowledge management impacts the organisation?

According to Oxford dictionary, knowledge is information and skills acquired through experience and education. Every organisation will have information and skills to be transferred irrespective of their nature of business. Information can be recorded and transferred through documentation process. The question is how can skills be transferred? This can be effectively done by implementing customized KM practices. If not, 1. Organisations will keep spending time, money, effort and resources in reinventing the wheel. 2. When key employees leave an organisation without transferring their knowledge, organisation is not only losing resourceful employees but also they are giving away trained employees to their competitors. 3. "Everybody is a genius. One cannot judge a fish by its ability to climb a tree." What I am trying to say is anybody in the organization can come up with a great idea. Most of the time it goes unheard or organization will be too late to capitalize on it.

What constitutes good Knowledge Management practice in your eyes?

I believe mainly three points constitute good KM: 1. Every organisation will have its own home-grown management. It will have different people with different strategies. So it is very important for organisations to develop customized KM practices. 2. Antoine de Saint said, "If you want to build a ship, don't drum up people together to collect wood and don't assign them tasks and work, but rather teach them to long for the sea." The point I am trying to make here is, if employees can resonate with organisations Vision then they themselves will help with customizing KM practices applicable to their organisation. One of the effective ways is to show employees how their actions are impacting organisations bottom line. 3. Finally, organisation should have KM department or forum which should foster an environment for employees to share ideas, brainstorm on it and measure the progress. Remember, too much is too bad. There can be knowledge mismanagement as well!

What is your Twitter ID if you have one?

ChinmayYGBClub

Introduction

Financial Statement Analyst. I help business owners to read and understand financial statements. I make finance fun to learn by using laymen terms as I do not have accounting background.


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