1) What are the major steps involved in developing a KM strategy?
A good knowledge management strategy is composed of the following components:
- An articulated business strategy and objectives (products or services, target customers, preferred distribution or delivery channels, characterization of regulatory environment, mission or vision statement);
- A description of knowledge-based business issues (need for collaboration, need to level performance variance, need for innovation, need to address information overload);
- An inventory of available knowledge resources (knowledge capital, social capital, infrastructure capital);
- An analysis of recommended knowledge leverage points that describes what can be done with the above-identified knowledge and knowledge artifacts (Dalkir, 2011, “Knowledge managemanet in theory and practice” pp.316-317).
2) What are the major elements of a KM strategy and processes involved in each step?
Knowledge audit should be the first step in any Knowledge Management initiative. Knowledge audit assesses what knowledge assets are possessed by a specific organization. By knowing what knowledge is possessed, it is possible to find the most effective method of storage and dissemination
Intellectual capital is all the knowledge resources possessed by organization and its dynamic development and renewal can ensure organization’s advanced position in the market competition at the era of knowledge economy. A consensus has been developed that intellectual capital can be characterized as consisting of three components – human capital, external capital, internal capital (Edvinsson and Malone, 1997; Stewart, 1997; Sveiby, 1997).
Innovation refers to the entire process encompassing the use of creativity and research to generate new ideas, feasibility studies to evaluate their cost-effectiveness, risk analysis, design and development, new policies and procedures, market research and marketing, and implementation of the new product or service
3) What are the key steps in the evolution of an innovative new idea and the institutionalization of a best practice that forms the object of reuse?
Evolution of an innovative idea or knowledge creation:
This process depends upon knowledge sharing (as defined above), collaboration, and access to relevant information and data. Cook and Brown (1999) suggest that knowledge creation is an interplay between knowledge and knowing, or in other words, putting knowledge into practice. The role of management in this process was identified as:
- Enabling knowledge sharing: This is a proccess consisting of several underlying activities:
- Explicit knowledge: Depends on articulation of needs, awareness of knowledge, access to knowledge, guidance in the knowledge sharing process, and completeness of the knowledge sources (Bukowitz & Williams 1999). IT systems and content management are extremely important in this process.
- Tacit (embodied) knowledge: This depends on socialization, particularly within informal networks. Culture is particularly important in this area. Tacit knowledge can rarely be effectively codified without losing the essence that makes it so valuable to begin with, so the focus should be on supporting work relationships. IT has a secondary supporting role in this context, primarily as an expert finder and as offering support in the socialization process (e.g. through groupware applications).
- Embedded knowledge: Use of scenario planning, after action reviews, and management training (Gamble & Blackwell 2001). IT has a role in mapping, modeling, creating simulations, and as an embedded knowledge repository.
- Creating suitable work related environments: The focus here is on unstructured work environments where experimentation, trial and error, and theory in use are promoted. Self-organizing, semi- or fully-autonomous project teams are identified as one useful tool in this endeavor.
- Providing access to collaborative IT systems: Groupware applications can be used for this purpose. These must support and not interfere with the ideal work environment.
- Providing access to relevant data and information: From information systems, data warehouses, data mining, etc. These can act as building blocks in the knowledge creation process.
The object of knowledge reuse:
Knowledge Reuse involves three roles, the knowledge producer, intermediary, and consumer (Markus 2001), which are involved in creating, preparing, and actually reusing the knowledge. Two keys elements here are culture and cost – particularly relating to tacit knowledge (where indexing the source rather than the knowledge itself is often more viable). Markus identifies four reuse situations:
- Shared work producers
- Shared work practitioners
- Expert seeking novices
- Miners of secondary knowledge
4) What are the different approaches that may be undertaken in order to achieve an optimal balance between creativity and organizational structure?
There is no single recipe that can apply to every organization. Dalkir writes that If the organization is too fluid, there will be no solid connection of knowledge work to business goals, and it will be difficult to have clear accountability. If the balance shifts too much in favor of institutionalization, however, the organization risks becoming too formal, which can stifle innovation and the open communication necessary for creative work to take place .
Some of the factors leading to balance which are used in several role model companies in the field of KM are:
■ Consistency between core values, business strategy, and actual work environment.
■ Stress on personal freedom, cooperation, and community.
■ Top leaders as good role models.
5) What are the different types of knowledge assets that result from KM initiatives?
The terms Intangible Assets (Petty & Cuganesan,2005), Knowledge Assets/Capital or Intellectual Assets/Capital are often used as synonyms. The term Intangible Assets can often be found in the accounting literature, the term Knowledge Assets is used by economists and IC is used in the management and legal literature. But all refer essentially to the same thing: the intangible value contained in the heads and relationships of employees, management staff, customers and other stakeholders.
Dalkir (20119 defines some of the knowledge assets as competence, capability, technologies. Capability is the skills needed to apply competence, which are demanded to achieve a goal. Technologies are helping in these process.
Charmain Smith writes in his article in the webmagazine Chron (1) that intellectual assets include items such as blueprints, customer lists, drawings, formulas, recipes, software coding and written trade secrets. These ideas serves as the foundation for the creation of additional intellectual assets that help build and expand the business’s success. These items are original ideas created by and for the business but are not certified or registered. These intangible items represent the business’s individual operations and processes and often set the business apart from its competition. For a small business new to its industry, these intellectual assets can be the items that fill the industry’s voids or establish new benchmarks for the industry.
(1) http://smallbusiness.chron.com/intangible-asset-organization-foster-creativity-38490.html
6) Who are the major categories of stakeholders who should be involved in the strategy formulation process?
The major categories that should be involved in strategy formulation are KM experts, people who have knowledge for the organization and an advocate who will sell the idea to the management. It is important to interview key stakeholders as senior managers, human recourses , IT, and major business managers.
7) What is the role of management and leadership in organization and in IKM?
Leadership and management are processes that are similar in many ways. Leadership involves influence like management. Leadership and management include working with people
But there are differences. Someone argues that leadership and management are different concepts. Abraham Zaleznik writes in the Harvard Business Review in 1977 that managers are reactive and prefer to work with people to solve problems but they do so with low emotional involvement. He believes that leaders are emotionally active and involved. They seek to shape ideas instead of responding to them and act to expand the available options to solve long-standing problems.
Warren Bennis and Bert Nanus (1985) presents some key differences between leaders and managers.
Leaders:
- do the right things;
2. see people as great assets;
3. seek commitment;
4. focus on outcomes;
5. see what and why things could be done;
6. share information; and
7. promote networks.
While manager’s:
- do things right;
2. see people as liabilities;
3. seek control, create and follow the rules;
4. focus on how things should be done;
5. seek compliance;
6. value secrecy; and
7. use formal authority (hierarchy).
To be effective, organizations need to nourish both competent management and skilled leadership.
8) Why it is important to conduct an audit before eliciting stakeholder objectives?
Auditing activity has in the past been generally informal, accomplished through participation in meetings and discussions with members of the Board of Directors. The audit should protect the interests of diverse stakeholder groups in a manner consistent with ethical standards. Understanding the expectations of stakeholders is another goal.
9) What are the major differences between the short-term and long-term strategy? How do they fit together?
Long-term strategy defines the company’s vision, mission and objectives. A company’s planning process begins with defining the vision of the company, setting forth the mission, identifying objectives and then designing a tactical strategy to achieve the mission. In some instances, companies are very good at articulating or designing a strategic plan but fail to execute a short-term operational plan. Both long-term strategic and short-term operational planning are important to the future success of any organization. Without a tactical short-term plan, operations management is unable to identify the milestones that are important to achieving the overall strategy set forth in the business plan. Therefore, it is necessary to coordinate operational short-term plans to ensure that they are effective in achieving the basic mission of the company.
10) What are the relationships among human, structural, and relationship capital?
Intellectual capital has three elements: Human capital • Structural capital • Relationship capital
The structural capital is dependent on human capitals – as soon as this capital is influenced by the human capital, it would be flourished clearly and independently from the capitals. Customer (realtionship) capital can be seen as a bridge for defining and changing intellectual capital into market value. The more the staffs’ knowledge and learning abilities will be, the more efficiency they have in their job skills, the better effective training courses they take in line with organization activities, and the more they take part in decision making process, the more the organization will develop. Those organizations which have a better relationships with capitals and they are well informed about the needs and demands and try to adapt themselves to new demands are highly motivated to give better services. (Salehi & Jahanian, 2013, “Managing Intellectual Capital in Organizations”)
11) Why are intellectual assets difficult to manage?
An organisation’s most valuable resource is its knowledge – an aspect of its intellectual capital. Knowledge can be tacit (embedded in the minds of employees and, therefore, difficult to manage) or explicit (expressed in some record from which it can be retrieved). Brenda Massetti (1999) writes in her article “Measuring Intellectual Assets” that the intangibility of intellectual assets has made them difficult to measure and manage. For example, the accounting concept of “goodwill” is simply the amount left after deducting measurable costs from the selling price. It is not precisely attributable to specific assets. One person’s knowledge is often another person’s data, information, or wisdom. The focus usually goes on what goes where in the hierarchy rather than on how much value is being derived for the organization.
However there is some attempts to classify intellectual assets into 1) a semipermanent body of tacit and explicit knowledge about a task, person, or organization; and, 2) the capital resources (human, structural, and relational) that augment this body of knowledge. This classification can produce intellectual asset measures that can be targeted for research and investment.