Knowledge Management is more on collecting knowledge information from employees as well as from customers. The organization’s ability to deliver good product or service is a mark for good performance. Behind those performances is knowledge skills that you would want to get hold on. You lose those knowledge skills the moment employees leave either for a better position outside the organization, an employee retires or should your organization seek to downsize. The need to collect that information is vital but you might not be equip to do this on your own and your employees may not be ready to give out this information to you.
Many Knowledge management companies cater service to organization who wishes to apply Knowledge management in their organization. Since Knowledge management involves collecting and gathering information, communication is the key to these activities. These companies will enable organization to make tacit knowledge explicit and vice versa. Tacit Knowledge refers to unspoken knowledge. This endeavor will allow management to make the most of the knowledge available for the organization, generate understanding, increase awareness and knowledge of the process.
With knowledge management companies’ management would be able to focus on their core competencies. Organization saves on productivity costs, as employees are able to get hold of information immediately rather than use up 70% of their working time in gathering information.
Knowledge management companies will prepare you to know what you need to know when you need it. Be the know- it- all in your organization.