Promote Knowledge Sharing in Your Organization
Progressive organizations now know that great ideas do not always come from management. At all levels of a company, there are rich stores of knowledge to be found. Companies that encourage best practice sharing can tap into this rich resource.
Not only does this type of sharing promote overall knowledge, but it facilitates further creativity. Organizations that use best practice sharing find that it helps them overcome the “that’s the ways it’s always been done” mentality. New ideas that come out of these programs drive process improvement, increase efficiency, and improve the bottom line.
In a recent report, "Knowledge Management of Internal Best Practices," conducted by Best Practices LLC's innovative methods used by world-class companies to communicate best practices internally are profiled. The study provides recommendations for how to create a best practice-sharing culture through all levels of the organization, how to use both external and internal sources to find best practices, and how to capture that knowledge and communicate it to all employees.
A best practices example examines how General Electric spreads best practices through its organization with regular job rotations. The plan enabled that business unit to reduce inventory by $200 million and increase return on investment by 8.5 percent. Visit the site to learn more about the report and to view the full summary or call 919.403.0251 ext. 230.
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.