Knowledge Management Works
How are world-class companies saving millions and improving systems? They are harnessing the power of knowledge management systems specifically designed to directly contribute to larger corporate goals, according to Best Practices, LLC’s report, “Knowledge Management of Internal Best Practices.
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.
Over 50 companies with world-class knowledge management strategies are profiled, including Xerox, British Petroleum, Dow Chemical, Hewlett-Packard, Monsanto and General Electric in the report. Learn more about "Knowledge Management of Internal Best Practices" by calling 919/403-0251 ext. 240 or email Lilly Gutwein.
Voice of the Editor
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.