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Knowledge Governance

A Key Factor for Successful Knowledge Management

Knowledge is power in the current information age. Organizations have realized that all forms of enterprise knowledge and knowledge management are becoming important aspects in a successful business strategy. Knowledge Management creates an ecosystem where employees can share their experiences and knowledge easily, leading to a smooth, seamless flow of knowledge across organizational boundaries enabling the true 'learning organization'.

A KPMG survey indicated 80% of surveyed organizations considered Knowledge Management as a strategic asset and 78% believed that they are missing out on business opportunities by failing to successfully exploit available knowledge.

While awareness and spending on Knowledge Management initiatives is on the increase, failures in implementing Knowledge Management capabilities is very high. Some key factors for a failed Knowledge Management initiative are:

  • Inappropriate project scope - tackling too much at once
  • Too much focus on automation tools and not enough focus on process
  • Organizational cultural barriers
  • Lack of support from enterprise leadership
  • Proper application of Knowledge Governance

This paper focuses on Knowledge Governance, including important implementation considerations and benefits of having a sound Knowledge Governance strategy.

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