Collaboration Through Knowledge Management
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Knowledge management (KM) represents an enormous opportunity for organizations to take advantage of the increased benefits that accrue from a great degree of collaboration among individuals. This collaborative intellectual asset sharing allows organizations to take advantage of a diverse body of information and individuals with different levels of skill, intelligence, and experience. Rapid and innovative changes in technology and communications have helped the global marketplace emerge. In such a global market, it is even more imperative that the organization adopt and apply knowledge management across all strategies, policies, and practices. The ability to rapidly share information and keep individuals informed of pertinent knowledge is even more critical in the global era of increased competition and the drive for increased revenues. Collaboration, i.e., employee participation and effective management of information from a diverse body of individuals (vendors, suppliers, customers, employees, etc.), is mandatory for knowledge management to reap optimal benefits for the organization. Collaboration and participation in knowledge management is a must for organizations that wish to add value to their products and services and retain competitive advantage in the global era. As Neil Gross (135) maintains about the new knowledge management reality:To cut through the red tape, companies depend on a new type of executive
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upta and Govindarajan 71).
Many companies that have adopted knowledge management, like Texaco and Nucor Steel, have found that for optimal collaboration employees must not only be encouraged to participate but discouraged from not participating. At Texaco, rewards are offered for participation while penalties are applied for non-participation. At Nucor Steel, knowledge managers have found that they have experienced a much higher degree of collaboration among employees once they began using incentives for people to participate, share information, and collaborate with each other. Nucor was able to effectively implement knowledge management among its employees by recruiting superior talent, offering high-level incentives, and creating a corporate culture with a high level of empowerment both in terms of accountability and tolerance for failure. Tolerance for failure is a key element in the success of individuals adopting anything new. Aside from this, Nucor’s incentive strategy was such that it took away the non-sharing mentality among employees because it was in their best interest to not only share information but discover new information:
There were several ways that incentives motivated Nucor’s employees to push the bounda
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Approximate Word count = 2281
Approximate Pages = 9 (250 words per page)
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