KNOWLEDGE MANAGEMENT

What is knowledge? knowledge refers to ideas or understanding which an individual possesses and those that are utilised effectively for goal realisation. What is a knowledge asset? Knowledge asset, as applied to a business firm, means knowledge regarding the markets, products, technologies and organisation that a business owns or needs to own and which enable its business process to generate profits, value etc.

The new source of wealth is knowledge, and not labor, land, or financial capital. It is the intangible, intellectual assets that must be managed.

Sources of Knowledge

The key challenge of the knowledge-based economy is to foster innovation

Knowledge is intangible, dynamic, and difficult to measure, but without it no organization can survive. Implicit : or unarticulated knowledge is more personal, experiential, context specific, and hard to formalize; is difficult to communicate or share with others; and is generally in the heads of individuals and teams. Explicit: explicit knowledge can easily be written down and codified
What is knowledge management? Knowledge management is defined as the systematic process of finding, selecting,

organising, distilling and presenting information in a way that improves employees comprehension in a specific area of interest

Who is a knowledge worker? Knowledge worker is also called as gold collar worker, who are sometimes known by their professional specialty for eg. Lawyer, doctor, programmer, information system designer, information specialist, librarian, teacher and scientist.

Organisational knowledge why is it important

Knowledge can be embedded in processes, products, systems, and controls

Knowledge can be accessed as it is needed from sources inside or outside the firm It is versatile and can be transferred formally, through training, or informally, by way of workplace socialization It is the essence of the competitive edge!
Whats the strategy ?
There are two very different knowledge

management strategies: In some companies, the strategy centers on the computer. Knowledge is carefully codified and stored in databases, where it can be accessed and used easily by anyone in the organization. This is called the codification strategy. In other organizations, knowledge is closely tied to the person who developed it and is shared mainly through direct person-to-person contacts. This ia called personalization strategy . Companies that use knowledge effectively pursue one

strategy predominantly and use the second strategy to support the first. Think of this as the 80-20 split: 80% of their knowledge sharing follows one strategy, 20% the other.

Knowledge management tools Internet Intranet Information Technology Virtual team network Desktop videoconferencing multimedia email

Mentoring
Collin *1979) has defined mentoring a one-to-one relationship between a more experienced person and an inexperienced person, and only until the latter reaches maturity. Bolton (1980) mentoring exists when an experienced person provides guidance and support

in a variety of ways to the developing novice. In addition to being a role model, the experienced person acts as a guide, tutor, coach and a confidant. Mentoring has assumed great significance in recent times. It helps organisations achieve several objectives such as. Providing a structured way for employees to train and help each other; Developing young managers and high flyers as well as other employees; Reducing entry shock for newcomers to the organisation by facilitating socialisation; and Providing on-the-job training and coaching to new employees

Mentors do many things for their mentors to help them in their careers. Providing support to them when they are just beginning their career and are likely to be unsure about their abilities Facilitating job success by nominating them for promotions Providing them opportunities to demonstrate their competence Helping them get noticed by the top management Protecting them from serious consequences

of their errors; and Providing them insulation from situations that may prove to be risky for their careers.

Who is a mentor? Mentors are individuals with advanced experience and knowledge who are committed to provide upward mobility and career support to their dependent. Who is a protg ? or mentee Mentors or protgs are individuals who receive guidance, coaching and support from the mentor. Different role of mentors Sponsor

Teacher Devils advocate Advocate Coach Adviser Counselor Broker

Functions of mentoring Career-related or career support functions. Psychological or emotional support functions. Positive outcomes of mentoring Job performance Socialisation Human resource & succession planning Leadership development Cultural diversity Political sponsorship Negative outcomes of mentoring

Mismatch within the dyad Distancing behaviour( isolation ) Manipulative behaviour Lack of mentor expertise General dysfunctionality

Mentoring models Mentoring circles Peer mentoring Team mentoring Consultant mentors Reverse mentoring