Promote Knowledge Sharing in Your Organization | AccountingWEB

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.

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