Throughout history, we’ve been using stories to pass on wisdom and culture; stories are indeed a very communicative form to share knowledge. By telling a story, we can communicate lessons, convey complex concepts, or represent abstract ideas.
So it’s not surprising that some of the world’s leading organizations use stories as a tool to not only educate their employees, but also motivate and inspire them. For instance, Nike preserves the legacy of its prolific co-founder Bill Bowerman, by teaching its managers to communicate his leadership principles and values through stories.
We have a culture of sharing. I believe we’ve all been taught to share since we were young… and some of us probably started first with sharing our toys, then maybe our clothes, a little gossip here and there, and perhaps even test answers (oops). And today, we can look no further than our social media feeds to behold this thriving culture of sharing, in some cases – TMI!
In an ever-changing climate where the only certainty is uncertainty, knowledge provides the constant source of competitive advantage. Successful companies know this, and continuously strive to tap into the collective wisdom of its people to fuel innovation.
Now with the new technologies available, it has become far easier for businesses to identify, capture, collect, store, categorize, share and use information to its advantage. And many companies have leveraged on them with the aim of creating robust knowledge banks that support employee performance.
One key success factor to a strong knowledge bank is inevitably content. For content to be engaging it has to be highly relevant to employees – you don’t want your knowledge bank to turn into a knowledge dump littered with information that will overload them.
Knowledge has always been a critical resource, whether it lies in a business’ keen understanding of its customers, the environment it moves in or in the skills and experience of its employees. How a business collects, shares and harnesses its knowledge is critical to its success.
This applies to companies of all sizes, from businesses of the Fortune 500 to the local mom and pop business owner. Actively managing and sharing knowledge will help businesses make better decisions in often challenging environments, and encourage the free flow of ideas and insight that can lead to game-changing innovations.
Managing what employees know is a major factor to competitive success. And many companies have made valiant attempts at knowledge management (KM) in a bid to reap all the potential benefits. But in some instances, plans fall through, things go wrong and the KM effort fails to yield all the benefits that it could have achieved.
So how do you ensure that yours doesn’t fizzle out? Well first, be sure to avoid some of the common traps. Here are 8 pitfalls to avoid.