Knowledge Management Principles That Can be Put in Place to Help Overcome Organizational Failures

Within the organization, knowledge plays the fundamental role of leveraging the performance of people. When we know more we can achieve results that would not be possible to achieve before. Knowing the value of this resource, we can no longer be its hostage, but use it to generate more and more impact.

There is no universal solution for knowledge management in an organisation, but there is a set of universal principles.

Knowledge management principles need to be embedded in the organization and embodied in the people in a meaningful and balanced way. So what is a Knowledge Management Principle?

A dictionary definition of a principle is a ‘fundamental truth or law as a basis of reasoning or action. Principles are timeless, universal and changeless. Knowledge will change over time, so it is of great importance implementing principles that can apply to individuals, teams, organizations, inter-organizations, and even globally.

Every company should make itself a roadmap for the implementation of KM principles.

Knowledge is a Valuable Asset

Knowledge being the new engine of corporate development has become one of the most important assets in the companies, so there is no doubt why successful companies tend to be those that continually innovate, relying on new technologies and the skills and knowledge of their employees rather than assets such as plants or machinery.

Knowledge Must be Managed

While knowledge management is expensive, not managing knowledge is even more so. How much does it cost an organization to forget what key employees know, to be unable to answer customer questions quickly or at all, or to make poor decisions based on faulty knowledge?

Knowledge is Stored in a Central Repository

Knowledge base is a body of knowledge that is continuously evolving. Knowledge consists of answers shared by experts, information hidden away in emails, ideas and feedback found in article comments and community forum discussions.

One of the biggest problems that knowledge management programs face is islands of knowledge. Teams and individuals have a tendency to horde knowledge in their own repositories. This principle makes it clear that everything should go into one central repository.

Knowledge is Social

Knowledge that sits on a shelf has no value. The value of knowledge depends on communication and socialization. Using easy to use knowledge management platforms, make the knowledge sharing a social experience.

Knowledge is Shared

To have successful knowledge sharing, knowledge management must understand the requirements of the users, as well as the complexities and potential problems with managing knowledge and knowledge sources.

Knowledge is Accessible

Knowledge is more valuable when it’s accessible to a wide audience. No one likes to be outdated and if the employees are getting a proper source of relevant information they would surely be open to new ideas with a faith that proper knowledge of the same would be shared.

Knowledge is Secured

Knowledge is your most valuable information. It’s critical that information security best practices be followed for knowledge management processes and tools.

Knowledge is Searchable

Search is a critical tool for knowledge discovery. Executive management may choose to make search a priority.

Work Produces Knowledge

Every program, project, process ,initiative even a meeting is expected to generate knowledge.

Knowledge is Improved

In this fast moving economy, knowledge has an increasingly short life, and if it’s not used, it quickly loses value.

Over time, these KM principles will be further developed and refined, so it is a good idea to revise this section from time to time.