First of all, it is important that we know what knowledge management is. To simplify the definition as much as possible, we would say that it presents a process of manipulating information and knowledge inside of an organisation. The ultimate goal is to increase efficiency, productivity, and make customers happier.

The term was mentioned a long time ago, but the discipline was established in 1991, when universities started teaching it in information sciences, systems, business administration, all kinds of management. Ever since then, various companies have devoted departments and resources to knowledge management improvement.

The reasons why knowledge management was able to become a standalone science discipline, and why companies care so much about it, are:

  • All the necessary resources and crucial information are available to all employees at all times
  • The knowledge that can disrupt a company’s integrity is kept private even after one or more employees leave the firm
  • It uses the expertise that already exists
  • Brings standards for KM when it comes to its procedures and processes
  • Unnecessary efforts are removed

The theoretical part of KM might still be a bit vague to you, in case you haven’t read about anything similar in the past, but the numbers and implementations of these theories are what makes it amazing and worth being aware of. Every business out there does not operate in order to lose money – that’s why they love KM, as it can increase their profits, sometimes by a great margin.

The Evolution of KM

Not so long ago, every business required buildings, offices and people working from nine to five. All the communication was done immediately, face to face, with occasional phone calls to the other office.

The internet changed the game completely. Even though the world wide web existed through the ‘90s it wasn’t really being used by companies until maybe 10 years ago. Databases existed, but the communication and online storage still weren’t capable of allowing people to work outside the office.

It is not unusual at all for the employees to work either from home or several different locations, having flexible work hours. This proved to be a great method for an increase in productivity for certain professions and industries. Here are some of the benefits of using the internet/intranet:

  • Online interviews
  • Training using e-learning software/platforms
  • Cloud storage
  • Online meetings through skype for example

Happy Employees – Increased Productivity!

Besides applying the best out of suggestions from economy specialists and the rest of the management team, you can always look for other ways to increase productivity. Happy employees equal pleasant environment which leads to them being willing to work more, which in turn guarantees you’ll get more to sell, giving you higher profits!

Knowledge management truly is one of the best disciplines in business, as it makes everyone in the company happy. As the goal is to utilise the power of the internet, you’ll have to work on something called the social intranet.

It is important to let people know that they bring value to the company, regardless of their seniority. You will be surprised with how much can be accomplished if you would let everyone contribute by enabling wide sharing inside of the organisation and by looking for areas to help your employees improve their skills when needed or convenient.

 


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