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7/31/2019 Whats Your Strategy for Managing Knowledge1
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Whats Your strategY for
Managing Knowledge?
Gaurita Satam.
PG-A(40)
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Whats your strategy for Managing Knowledge?
1990s chief executives started talking about knowledgemanagement and foundation of industrialized economy shifted fromnatural resources to intellectual assets.
Rise of networked computers
Codify, store and share certain kinds of knowledge more easily
Executives lacked successful models
Study knowledge management in different industries
Management Consulting Health Care Industry
High Tech Industry
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Management Consulting Firms
Knowledge is the core asset of consultancies
First to pay attention to and invest in KM
Aggressively explore use of IT to capture and disseminate knowledge
Experience relevant to companies that depend on smart people and flow ofideas
However, consultants do not take uniform approaches to managing knowledge
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Strategies used for managing
knowledge
Knowledge is carefully codified and stored indatabases, where it can be accessed and used
easily by anybody in the company
Codification
Knowledge is closely tied to the person whodeveloped it and is shared mainly throughdirect person-to person contacts.
Purpose of computers: help communicateknowledge
Personalization
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Codification Vs Personalization
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Different Strategies, Different Drives
Dealing with similar problems over and overagain.
Customers gain because consultants can builda reliable, high-quality info system faster forlower price
Codification
Tackle problems that dont have clear solutionon the outset.
Create a highly customized solution to aunique problem.
Charge high fees for their service.
Personalization
1. Create Value for Customer
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Different Strategies, Different Drives
Rely on the economics of reuse.
Reuse of knowledge saves work, reducescommunication costs.
Allows a company to take on more projects.
Codification
Rely on logic of expert economics.
Offer clients advice rich in tacit knowledge
Time consuming, expensive and slow.
Charge higher price for service.
Personalization
2. Turning a profit:
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Different Strategies, Different Drives
Hire implementers
Train using knowledge management repositories.
Recruit in large numbers
Work through different scenarios during training.
Codification
Hire inventors
Recruit very few, very carefully.
Mentor to use analytical and creativeskills on unique business problems.
Personalization
3. Managing People:
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KM in different industries -
Healthcare
Codifica
tion
Nurse uses clinical decisionarchitecture to assess callerssymptoms.
Knowledge repository containsalgorithms of more than 500illness and symptoms.
Initial investment was high
Algorithms used about 8,000times every year
Charges low price per call.
Has captured 50% of call-center market
Growing 40% each year
P
ersonaliza
tion
Provide the best, mostcustomized advice andtreatment to cancer patients
Variety of experts consult andcollaborate to treat eachpatient.
Intensive face-to-facecommunication to ensureknowledge transfer betweenresearchers and clinicians.
Pays high salary to itsemployees.
Consistently ranked as the topcancer research and treatmentcenter in the country
Access Health Memorial Sloan-KetteringCancer Center
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KM in different industries
Computer industry
Codifica
tion
Assembles inexpensivePCs and sells directly tocustomer
System drives theoperation
Invested heavily inelectronic repository
Does not deliver highlycustomized orders.
In 1997 - shipped 11million PCs
Sales - $12.3 billion
Has grown 83% annuallyover the past 5 years.
P
ersonaliza
tion Develops innovative
products
Technical knowledge istransferred to productdevelopment teams in atimely way throughperson-person exchanges.
Engineers routinely visitdifferent divisions andshare ideas about possible
new products. Extremely successful in its
field.
Dell Hewlett Packard
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KM in different industries consulting
industry
Codific
ation
Invested heavily incodification process
250 people at theCenter for BusinessKnowledge managethe electronicrepository and helpconsultants find and
use information Service offering is very
clear
Hires undergrads fromtop universities and
train them
P
ersonaliza
tion
Focus on dialoguebetween individuals,
brain storming sessionsand one-on-oneconversations.
Use informationtechnology mainly toconnect people.
Highly customizedsolutions
Hire top-tier MBA grads
Anderson Consulting
/ Ernst & Young
Bain, BostonConsulting Group/
McKinsey
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Choosing the Right Strategy
Ask the following questions:
Why customers buy a companys products/services rather than
those of its competitors? What value do customers expect from the company?
How does knowledge that resides in the company add value forcustomers?
Assuming answers to these questions are clear, the
following questions need to be addressed
Standardized or customized products?
Mature or innovative products?
Do employees rely on explicit or tacit knowledge to solve problems?
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Conclusion
Never isolate Knowledge Management may risk losing its benefits.
Do not isolate in departments like HR or IT.
Benefits higher if coordinated with HR, IT and competitive strategy
Only strong leadership can provide the direction a company needs to
choose, implement, and overcome resistance to a new knowledgemanagement strategy.
Strong leadership = benefit of customers and company
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