7 benefits of knowledge management in companies about:reader?url=https://www.heflo.com/blog/...

heflo.com

7 benefits of knowledge management in

companies
Pierre Veyrat

6-7 minutes

Knowledge management in companies is based on the concept

that knowledge is present in the minds of employees.

These, organized into groups, teams and departments, generate

even more knowledge, in the form of processes, management
models, methodologies and projects.

However, in order to take advantage of all the benefits of

knowledge management in companies, it’s necessary to assume
that this knowledge is not an exclusivity of each employee or
team that developed it, but a company equity that must be shared.

As a result of this collaboration and exchange of knowledge, all

employees will be able to enjoy the knowledge present in the
organization as a whole, generating much more efficiency and

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productivity.

The management of knowledge in companies is nothing more

than the promotion of mechanisms for the dissemination and
exchange of knowledge in organizations.

Check out this informative infographic:

Source: Aurum

See more: Knowledge management tools in companies, which

ones should you use?

Objectives, tools and benefits of

knowledge management in companies 
Before we analyze the benefits of knowledge management in
companies, it’s necessary to define some important concepts.

The difference between information and knowledge

Information is a message that will help others or the group reach

a goal. In the definition given by Peter Drucker, information is
interpreted data, endowed with relevance and purpose

Knowledge derives from information, and because it’s difficult to

explain it in words, it should, when possible, formally structure it
in manuals, schematics, tables and other forms.

In addition, it evolves, in the same way as the people who own it,
as it interacts with the environment and other people, who can
complement that knowledge.

Knowledge is further divided into 2 types:

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Tacit knowledge: the personal knowledge of each individual,

linked to their experience. This type of knowledge is the most
important, although less objective and difficult to articulate in
words in a formal way, because it involves intangible elements
such as values, beliefs, emotions and intuitions. It manifests
itself through effective action.
Explicit knowledge: this is formalized in documents, phrases,
rules and other codes, so that it can be easily transmitted,
including through courses and training.

Objectives of knowledge management in companies

For all its value to the organization, it’s very important that you
can use this intangible asset in the best way to achieve the
following objectives:

Organizational Memory Management: the necessary

conditions to identify all the knowledge the company has
accumulated and where it stores it.
Company organizes data logically so that it can transform it
into useful information to use for knowledge development.
Make information flow properly and be accessible to all, with
the help of technology, allowing your business to find results.
Promote the generation of new knowledge from the
dissemination of this information, which leads to the
achievement of competitive advantages.
Increase organizational competitiveness by using this
knowledge in a strategic way that unfolds in tactical
objectives and operational actions.

Also see: Where to get support and who to use for digital
transformation

Tools for knowledge management

But how do you achieve these important goals? Ideally, your

organization should use the following techniques:

Competency management

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One of the foundations of the new strategic HR model,

competency management consists of deeply analyzing the
organization’s objectives to clearly define what its knowledge,
skills and attitudes are. In other words, what competencies the
company employees need to possess or develop to achieve those
goals.

Organizational learning

This is a process of encouraging collective learning, which

provides an environment that stimulates innovation and,
consequently, risk. Where the organization doesn’t perceive errors
as failures, but as part of a process of continuous improvement in
search of new knowledge.

Corporate education

A more formal process that includes courses, training, workshops,

incentives to take courses outside the company and even the
creation of a corporate university.

Information management

Supported by technology, it seeks to systematize and organize

company information for it to flow to those who need it. This will
facilitate more agile and assertive decision making.

Competitive intelligence

In this case, an organization must constantly monitor the market

to find out if it’s lagging in terms of knowledge, especially at a
strategic level. This facilitates the discovery of opportunities and
anticipates risks.

Benefits of knowledge management in companies

After all we’ve said about it, it should be much easier to

understand the benefits of knowledge management in
companies:

More effective strategic management thanks to the

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knowledge of the best strategies, techniques, practices and

solutions.
Increase efficiency and productivity, with more collaboration
and use of the most appropriate processes.
Increased teamwork, innovation and the search for creative
solutions.
Decrease in the learning gap and the increasing accumulation
of knowledge in a systematic way.
Accelerating the productivity curve of new employees through
assertive training and access to the data, information and
knowledge they need.
Process standardization and more agile access to
information, leading to smarter decision making.

Also see: People, processes and technology in knowledge

management

How does your company share and store information about your
business processes?

With HEFLO, intuitive and cloud-based BPM software, along with

modeling and automating your processes, you can store them in a
repository and share them remotely with all your employees.

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