GLOBE October 2017 October 2017 - Page 19

GLOBE - Growth.Leadership.Organisation.Business.Education 18 4

2. Making it easy to find relevant information and resources

When faced with a need to respond to a customer, solve a problem, analyze trends, assess markets, benchmark against peers, understand competition, create new offerings, plan strategy, and to think critically, you typically look for information and resources to support these activities. If it is easy and fast to find what you need when you need it, you can perform all of these tasks efficiently.

15 Benefits of Knowledge Management

1. Enabling better and faster decision-making.

By delivering relevant information at the time of need through structure, search, subscription, syndication, and support, a knowledge management environment can provide the basis for making good decisions. Collaboration brings the power of large numbers, diverse opinions, and varied experience to bear when decisions need to be made. The reuse of knowledge in repositories allows decisions to be based on experience, large sample sizes, and practical lessons learned.

3. Reusing ideas, documents, and expertise

Once you have developed an effective process, you want to ensure that others use the process each time a similar requirement arises. If someone has written a document or created a presentation that addresses a recurring need, it should be used in all future similar situations. When members of your organization have figured out how to solve a common problem, know how to deliver a recurring service, or have invented a new product, you want that same solution, service, and product to be replicated as much as possible. Just as the recycling of materials is good for the environment, reuse is good for organizations because it minimizes rework, prevents problems, saves time, and accelerates progress.