How do I choose the best knowledge management strategy?

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When choosing the best knowledge management strategy, a business must consider the resources available, including software and human resources that can be dedicated full-time to a knowledge management function. The corporate culture should also be evaluated and the company should consider whether changes to that culture are required. The company’s goals and mission statement are other factors in determining the knowledge management strategy. The best strategy to follow also depends on the business model, the industry in which the company operates, and the nature of the customers and suppliers of the business.

The choice of the best knowledge management strategy can be tailored to take into account the goals of the organization and the resources available to implement the strategy. A company with a culture of innovation that requires the support of knowledge management should drive the strategy to promote the exchange of innovative ideas within the company and links with relevant external research establishments or collaborative networks. A company dedicated to customer service must link the knowledge management strategy with customer feedback, collaborative online spaces, open innovation and customer participation in product development. The strategy must be oriented towards the available resources in terms of the software to be used and the number of employees that can be involved in knowledge management.

The existing corporate culture is an important factor. If the culture is that employees participate in decisions and are proactive with suggestions for improvement and innovation, then the knowledge management strategy can be geared towards improving communication channels between management and staff. The strategy could aim to increase staff collaboration and ensure that staff suggestions are considered and, where appropriate, implemented. Where the corporate culture is focused on customer service, the knowledge management strategy could focus on improving communication and collaboration channels with customers.

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When sufficient resources are available, the knowledge management strategy can be geared towards changing the corporate culture to encourage a more innovative or customer-oriented approach within the organization. The strategy could involve establishing channels for team suggestions, engaging collaborative sites, and incentives for serious participation, such as monthly non-monetary prizes for the best proposals. Regular meetings can be held to discuss methods to promote innovation or improve customer service. A formal process can be instituted to ensure that all team suggestions are followed through and, if necessary, improved upon through further discussion with the relevant team. The knowledge management strategy can ensure that as many of the team’s suggestions as possible are translated into action by management.

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