Inthe economy world, it is crucial to have the ability to manageknowledge. Similarly, the diffusion and the creation of knowledge areas well as important aspects in competitiveness. Knowledge is avaluable commodity embedded both in products and in tacit knowledgeof employees. Kimiz Dalkir, a professor in McGill graduate school,provides an intensive overview of knowledge management, and heemphasis on theory practice (Lindnerand Wald, 2011).He urges that although knowledge is an intellectual asset, with someof its characteristics different from the normal commodities. Forinstances, he claims, “much of an organisation’s valuableknowledge walks out the door at the end of the day.” This meansthat whenever employees “walks out the door,” they take awaytheir organisation knowledge with them. Therefore, organisationsshould come up with strategies to leverage the tacit knowledge in itshuman capital to complement organisational knowledge.
Organisationmanagers should use intellectual capital and asset approach toidentify the valuable knowledge. In addition, they should come upwith strategies to minimize its loss through turnover, retirement,and competition. Wang,Noe, and Wang(2014) states that organisation should safeguard legacy materials bysafely storing them for future retrieval and reuse. The knowledgeshould flow from one employee to another and back to the organisationin form of practises, lessons, mentoring programs, and corporatememory. Further, managers can transit tactic knowledge toorganisational knowledge. For instance, they introduce activitiessuch as external benchmarking. This is whereby employees learn fromwhat their leaders do through publications, site visits, as well asadopting and adapting their best practises (Rubenstein-Montano,Liebowitz, and Buchwalter, 2014). Further,managers can organise conferences and expositions, and invitespeakers to pass the valuable knowledge. This strategy is bestbecause at any particular time, the organisation is always equippedwith sufficient valuable information.
Lindner,F., & Wald, A. (2011). Success factors of knowledge management intemporary organizations. InternationalJournal of project management, 29(7),877-888.
Rubenstein-Montano,B., Liebowitz, J., & Buchwalter, J., (2014). A systems thinkingframework for knowledge management. Decisionsupport systems, 31(1),5-16.
Wang,S., Noe, R. A., & Wang, Z. M. (2014). Motivating KnowledgeSharing in Knowledge Management Systems a Quasi–FieldExperiment. Journalof Management, 40(4),978-1009.