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8/7/2019 KM Session_1
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KM Sunil Pardeshi
Goods & Services
Goods tangible
Services- intangible
Traditional business models sell goods, services not part of a
good!!!
Greater Integration ofGoods and Services Services as part ofgoods free 3 yrmaintenance ofcars, 30 min delivery of Pizza,Customized design of vehicles, laptops,...
More & more integration ( Asian Paints & budgeting),....
Services becoming a indistinguishable part of a good!!!!
8/7/2019 KM Session_1
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KM Sunil Pardeshi
Knowledge- A production resource
Growing Business uncertainty Competition, Technology,Consumerpreferences, Environmental protection,...
Predicting the future - Rising role of knowledge in economies
Knowledge workers Core competence, consumerpreferences, innovation,
competitive advantage from knowledge point of view!!!
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KM Sunil Pardeshi
Knowledge Characteristics
Knowledge of a domain science, arts, commerce (Bio-technology, nuclearresearch, pharmacy, IT,...)
Knowledge ofhow to apply domain knowledge forwealthcreation - Know- how, patents, focus on processes, products...
Tacit knowledge example mechanic
Explicit knowledge Easy to codify, exchange, distribute!!!
Synergy property
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KM Sunil Pardeshi
Role of IT in Knowledge Management
Enabler forKM
Computing power, distribution, storage, recall!!!
ITcan greatly enhance the management of knowledge assets
in a company IT is not knowledge management!!!
KM has much to do with people,structures, transfer thanhardware and software!!!
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KM Sunil Pardeshi
Changing role of IT
Transaction processing to information management, processmanagement, knowledge management!!!
From standardization to implementation of best practices (ERP)
Creation of strategicresources innovation, knowledgemanagement, convert tacit to explicit knowledge!!!
One doesnt implement ERP to simply automate the processesany more!!!!
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KM Sunil Pardeshi
Knowledge driven Economy
Competition, lowerprices, demanding customer the morewe get, the more we desire...
Shorter life cycle, changing technology
Complex products Globalization and out sourcing
Companies that need to sustain need to invest in knowledge!!!
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KM Sunil Pardeshi
Highercontent of Knowledge
A new category of products/services which are based oninformation/knowledge
Products/services are packed with greater information content
Even products like edible oil and salt have knowledge content While costs of manufacturing decline, costs related to
technology, R&D, consumerresearch are increasing!!!
8/7/2019 KM Session_1
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KM Sunil Pardeshi
Knowledge- an asset
To sustain competitive advantage, corporations need to possessan asset that-
Provides competitive advantage- difficult tocreate/copy/replicate
Does not depreciate
Helps innovation!!!
Knowledge is the desired asset!!!
Thus management of knowledge is necessary to create valuecontinuously!!!
8/7/2019 KM Session_1
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KM Sunil Pardeshi
Knowledge Cycle
Knowledge Management- ability to transform the organizational knowledge intosustainable value creation
Knowledge cycle
Transformation ofTacit to Explicit knowledge
Create create knowledge, bring in
Capture assessment and representation
Refinement contextual reference with tacit Hitachi appliance example
Storage- to recall
Manage to keep it current, relevant, accurate
Disseminate
Adapt to internalize at operational level!!!
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KM Sunil Pardeshi
Knowledge Management Cycle
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KM Sunil Pardeshi
Myths of KM
KM is re-engineering
KM is library
KM is more of IT
Do it once, then relax
Just do because otherare doing!!!
Fordecades to come, knowledge will continue to dominate thebusinesses!!!
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KM Sunil Pardeshi
Need forKM
Knowledge helps businesses
Call Centres- ability to respond to queries
Front line staff- ability to solve problems
Business Managers betterdecision making thru accurate,complete and relevant information
Transferknowledge from people to system
Support Innovation
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KM Sunil Pardeshi
Knowledge Transformation
The process ofTacit to Explicitis modeled by 4 transformations
Socialization (S) -
Externalization (E)-
Combination (C)-
Internalization (I)-
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KM Sunil Pardeshi
Knowledge Transformation .
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KM Sunil Pardeshi
Socialization
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KM Sunil Pardeshi
Externalization
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KM Sunil Pardeshi
Combination
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KM Sunil Pardeshi
Internalization
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KM Sunil Pardeshi
KM Initiatives
People motivation forpeople to share knowledge
Processes to keep knowledge current, relevant
Organization organization policies, procedures forKM
Technology the environment underwhich KM activities arecarried out to deliverKnowledge to those who need it!!
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KM Sunil Pardeshi
Mobilize Knowledge
Start from what kind of knowledge is likely to be useful, thenproceed, so have process focus!!!
User focus point of performance
Some tools for
explicit knowledge management
Content Management- information related to process,product,...
Document Management- document life cycle
Records Management- transactions, exceptions,...
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KM Sunil Pardeshi
DIKW
Data: collection of facts, events, objects. Can be analog ordigital. Surveys, interviews also gatherdata
Data can be converted into useful information when someactions/processes act on data!!
Collect, Classify/codify, Sort/Merge, Summarize, store,arithmetic or logical processing, retrieve, distribute ordisseminate!!
Processed data information, processing adds contextual
angle to data!!!
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KM Sunil Pardeshi
Information
Information has a greater life
Information basis fordecision making
Information Simulation and testing
Information short term improvements
Information to one can be garbage foranother
Useful information is data processed withrelevance andpurpose!!!!
The powerof MIS is based on relevance and purpose!!!
Information can be processed further leading to knowledgediscovery!!!
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KM Sunil Pardeshi
Knowledge
Mix of experience, values, contextual information and expertinsight!!!
Thus, Knowledge has infinite life!!!
Knowledge is information supported by experience andinsight used forguiding actions
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KM Sunil Pardeshi
Wisdom
Accumulated knowledge
Application of knowledge in new situation ordomains
Wisdom is a deep understanding and realizing of people,things, events orsituations, resulting in the ability to choose
oract to consistently produce the optimum results with aminimum of time and energy.
It is the ability to optimally (effectively and efficiently) applyperceptions and knowledge and so produce the desiredresults. Wisdom is also the comprehension of what is true orright coupled with optimum judgment as to action
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KM Sunil Pardeshi
Wisdom
Consider the following example: If I invest 100 I get the
following returns after1 yr
Saving bank 105
FD 107
MF 112
Gold 115
Stocks 120
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KM Sunil Pardeshi
Information
The data can be processed - concepts like ROI, IRR
How to invest a sum of money? If one tends to answerbasedon ROI, one might choose Stocks, but is it a good decision?Experience tells us that every investment is associated with
risk, low orhigh!!! this is knowledge!!!!
SB 5% Risk f ree, liquid
FD 7% Risk f ree, blocked
MF 12% Moderate risk, blocked, exit terms
Gold 15% Low risk, easy to liquidate
Stocks 20% Highrisk, taxation and liquidity
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Knowledge
Thus low risk and highreturn, what is the best investmentdecision? The application of knowledge helps us associatewithrisk and return!!! Based on experience, context andobjectives!!!
However, to answer the question Given a large sum ofmoney, how to invest it?
Perhaps more options for investment such as land, buildingneed to be invested to get a betterpicture that is wisdom!!!Broader
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DIKW anotherexample
Sales data of a retail store- data
Processed data volume, time, fast moving items, -information, it can help in managing inventory, no ofcounters
Furtheranalysis and experience can lead to knowledgediscovery festive season, promotions, offers, displays,combo offers,
At the highest level, with experience, it will be clear if thebusiness makes sense, or to expand, ordiversify oroutsourcesome activities,...- Wisdom
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Characteristics of Knowledge
Knowledge assets escalate with time
Need to refresh and re-validate
Value of knowledge varies from person, company,
situation....Valuation difficult
Resides in knower internalized by knower
Contextual
Combines internal with external information
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Dimensions of Knowledge
Explicit knowledge in a form that can easily be understood drawings, databases, reports, letters, literature,....
Tacit Knowledge in intangible forms- mind, dairies,experience,...
SECI Model- explained