Knowledge Management Strategy

You strive to keep your team focused on the key objectives in a fast-paced marketplace. You need to continually hone your competitive edge and stay not just one step, but two steps ahead of your industry rivals. How do you do this? What discipline can you rely upon to keep your team aligned with your short- and long-term goals? A well-designed knowledge management strategy is the foundation you need for your business and team to flourish.

As you consider the barriers to a more productive organization, look at the departmental silos that splinter your company. If your business is in an expansion phase, various departments will grow in response; however, the result may be a fragmented, unbalanced workplace. Your individual departments will be focused only on their specific roles: Customer support, marketing, IT, sales, operations, or other responsibilities. Effective communication and productive knowledge sharing become hampered. Implementing the components of knowledge management strategy enables you to manage company knowledge, data, and information, which results in greater efficiency and productivity. Your team becomes more closely aligned with company objectives.

Your strategy should include the following elements

  • Content management
  • Expertise location
  • Lessons learned
  • Communities of practice (CoPs)

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