KM is a core function of organizations. It is practices by all organizations irrespective of whether they have a formal KM function or not.

There is a need for Leadership to appreciate what KM can do so that they can benefit from it.

I am highlighting a few aspects of KM that are important:

1. Ability to safeguard and grow core competencies (Know-how and Know-why): Typically done through collation, categorizing & storing key contents

2. Growing Thought Leadership: Interventions like Communities of Practice are powerful ways of growing Thought Leadership in any area of focus

3. Employee Productivity: Productivity of employees is correlated with easy access to information & knowledge. KM interventions go a long way in enabling employee productivity.

4. Cost Savings: Systematic reuse of proven knowledge can easily bring down overall costs ( 20-25%) & it largely depends on the discipline with which reuse is practiced

5. Revenue growth: By applying After Action Review techniques, we can achieve faster growth with higher predictability.

6. Agility & decision making: The ability to make decisions faster depends on how easily relevant information & knowledge is available. KM can easily enable this.