Knowledge Management Works

The report cites a leading chemical manufacturer that uses a systematic approach to ensure that knowledge management supports corporate strategy as an example. The company uses a six-step process for managing intellectual assets and says the program yielded $1 million in savings during the first year of use.

Successful knowledge management is tricky, however. Many companies have missed the mark when it comes to implementation. Although a surplus of writing exists on knowledge management theory, companies still don’t know what will work in practice and if a given strategy is suited to their company's needs and overall strategy.