KM & competitive advantage

KM & competitive advantage.

There are some well-recognized KM strategies which can
be applied to gain or leverage competitive advantage. Which one you
choose, depends on your firm's competencies, the market niche,
competitors and finding an internal champion. Here are some examples:

1) Information transfer: The capture and distribution of explicit
information via groupware, file sharing, intranets, or building a
corporate repository. Have a process in place to validate and abstract
the case histories, connect to people as well as content, provide

2) Custom knowledge focus: establish a single integrated profile and
interface, capture contact information, combine staff insights, extend
the enterprise boundaries to include direct customer interaction e.g.
virtual product design labs.

3) Measure & market intellectual capital & knowledge assets:
mine transaction data streams for patterns and useful business rules,
establish a database to sequence and manage all forms of intellectual
capital (patents, trademarks, copyright, brand value), allocate value
to intangibles and monitor ROI.

4) Competitive intelligence: gather and increase awareness of markets,
environment and competitors, establish single target profiles and
encourage all staff to contribute, push items to individuals depending
on activities & roles e.g. info on competitors new product launch.

5) Community learning: establish and support communities of practice,
monitor practice networks for excessive knowledge leaks, start a
program of intentional knowledge communities to help with learning and

6) A total knowledge focus: extend best practices to customers and
suppliers, use relationship audits to target possible alliances, search
for knowledge related opportunities in products, services and supply
chain, involve all stakeholders in your knowledge strategy.

Competitive advantage may come from or through faster learning,
sustained innovation, reduced cycle times, improved sensitivity and
co-evolution with markets or your unique blend of technology and
practice. KM can play a central role in all these aspects. The key is
having a shared understanding within the firm of exactly what aspects
of knowledge are important, opening communications to take advantage of
news and insights and having a culture that allows failure, learns from
mistakes and appreciates the fundamental role of knowledge as a
strategic driver in the current economy.  [Knowledge-at-work]

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