April 22, 2013

KBAM: Why is knowledge management important?

Knowledge management is undeniably very important. Judging by how all the topics put forward for seminar were related more closely to knowledge management than asset management, it seems that almost all of us appreciate its importance too. Whilst, I do not wish to undermine asset management (which is also vital), it was, nonetheless, an interesting observation.

So one must ask: why is knowledge management such a big deal?

In my opinion, the answer lies partly in the constant bombardment of data that we get regularly. For example, anyone who has been to an assessment centre and done the e-tray exercise will concur with me that an overload of data is almost suffocating. In that short space of time, you get close to about 30 emails in your inbox which require you to interpret data and make a decision. Now, if these organizations are using that to mirror their day-to-day work, then that paints a very critical picture. Essentially, these companies are living and breathing on data. This ever-increasing overload of data has, in my opinion, made knowledge management very important. Some would even go as far as comparing it with the analogy of a life support machine.

As a future manager, I hope to instil a culture where learning is a routine and knowledge management is a priority. This will not only aid the decision-making process at the organization but also harness innovation and generate wealth.


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