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PROJECT REPORT

OF
KNOWLEDGE MANAGEMENT
TOPIC- Cross Leveraging Knowledge

Submitting To:- Submitting by:-


Mrs. Sheetal Ritika (6929)
Nitika(6930)
Mcom II
Cross Leveraging Knowledge
Meaning
The term includes facilitating knowledge and information not only by individual but by collective efforts of
many individuals including experts and specialists in their work areas for the benefit of organisation through
technologies, software and other systems. The working and functioning of cross leveraging knowledge is
divided into parts:

A. The network knowledge economy


B. Indentifying unbound opportunities
C. Knowledge toolkits

A. The network knowledge economy: In the new economy, value is shifting to knowledge intensive
industries. Information and knowledge are dominating in all sectors of industries and also creating new
units and industries around them. Network knowledge economy to cross leverage knowledge including
following elements:
1. Industries are becoming more knowledge intensive: knowledge adds value. By combining the
features of knowledge with products and services as provided by industries help to cross leverage
knowledge and economy can best utilize its resources.
2. Smart products and functions: Industries use knowledge to provide better services that can
command premium prices and facilitate knowledge as per requirements. Services can be enhanced
and improved through better customer knowledge. For example: JW Marriott hotel keeps track of
individual preferences so that it can offer superior services as and when required.
3. Value in intangibles: The market value of most companies is higher than the value of their physical
assets as recorded in their final accounts. Cross leveraging knowledge can help to grow, collect
knowledge and provide a platform to make improvements in different shapes.
4. Networking and interdependence: In the knowledge economy, when several people connect
together, there exist multiple pathways for creation and flow of knowledge. This connection and
collaboration adds value. By combining knowledge from different perspectives, industries can create
new opportunities and respond to challenges in innovative and logical ways.
B. Indentifying unbound opportunities: The two thrusts of knowledge innovation and are foundations for
generating business opportunities. Cross leveraging knowledge in sharing knowledge to the right people,
in the right place, at right time. Cross leveraging knowledge support decision making and helps to solve
problems and issue by using the best available knowledge.
C. Knowledge toolkits: The organizational units in knowledge economy are knowledge teams that cross
leverage knowledge at different points. They are the hubs that gather, develop and apply knowledge for
value addition and effective functioning, Teams that achieve high levels of performance workforce and
team cohesiveness. Such teams:
a. Are self managed
b. Put teamwork ahead of individual stardom
c. Assume collective responsibility in the team
d. Have members who share knowledge
e. Change roles and tasks for effective functioning of their tasks and activities
f. Seeks innovation, learning and improvement
Factors that underpin a successful cross leveraging knowledge
1. A clear business need and an appropriate task that can give effective output.
2. The technology must be easy to access.
3. Good information and knowledge management can help to prepare effective framework in a structure
way.
4. Relevant flow of information and active participation of all teams.
India and the knowledge economy: Leveraging on strengths and opportunities
One of the world’s largest economies, India has made various strides in economic and social development in
the past two decades and is making efforts to realize faster growth in years to come.
1. Embarking on a new growth path: Growth path of country depends on how well the government,
private sector and society can work together to create a well planned structure with their understanding.
India can gain tremendous gain by developing strategies that focus on making effective use of knowledge
to increase the overall productivity of the economy. This will facilitate welfare of the society.
2. Embracing the knowledge economy: It is essential to make transition to the knowledge economy- an
economy that creates, disseminates and utilize knowledge to enhance growth and development. In India,
great potential exists for increasing productivity. It is possible by shifting labour from low productivity to
high productivity in agriculture and service activities as well as to new knowledge based activities.
3. Building a dynamic information structure: Rapid advances in information and technologies are
affecting economic activities, creation, dissemination and use of knowledge. The use of ICTs is lowering
the barriers of time and space. The information structure in a country consists of telecommunication
networks, information system and legal frameworks affecting their use and skilled human resources
needed to develop it.
Purpose
The purpose of leveraging enterprise knowledge is to help executives, teams and individuals make better
informed and timely decisions. The main purpose of leverage knowledge in an enterprise is given below:
1. Drive Innovation
2. Identify growth opportunities
3. Manage cost
4. Manage risks
5. Execute effectively
6. Strengthen relationship
7. Learn faster
8. Leverage talent
Leveraging Enterprise Knowledge
Leveraging enterprise knowledge promotes an integrated approach to identifying, retrieving, evaluating and
sharing an enterprise tacit and explicit knowledge to meet business objectives. The goal of enterprise
leverage knowledge is to create a culture of collaboration and knowledge sharing in the enterprise where
key information is pushed and pulled within global enterprise to meet business objectives.
It is the art and science of connecting people who need the right knowledge, at the right time, to make
decisions. The guiding principles divided into 4 components: People, processes, technology and content.
These all components involve the following:-
1. Train and educate enterprise leaders, managers and champions: To create a culture of
collaboration, the enterprise needs to educate change agents who understand the principles and
technologies that can effect change to accelerate meeting objectives.
2. Recognize and reward knowledge sharing: What gets rewarded in organisation gets done. Reward
structures guide organizational and individual behavior. Therefore, reward sharing behavior.
3. Establish policies and promote collaboration: A collaborative environment fosters new ideas,
understanding, and ways to execute key business objectives.
4. Use every interaction whether face-to-face or virtual as an opportunity to acquire and share
knowledge: Continuous learning is an expected day-to-day activity. Learning faster than competitors
yield short and long term results.
5. Prevent knowledge loss: Knowledge is perishable. It has a life cycle. The life cycle cannot begin until
it is assessed for its value.
6. Protect and secure information and knowledge assets: Denying competitors access to key
information gives the enterprise the decisive advantage to securely communicate and collaborate across
geographic and organizational boundaries.
7. Enabled knowledge assets in standard business processes and provide access to those who need to
know: Leverage digital media to add context, understanding, and situational awareness to operations
and business activities.
8. Use standard business rules and processes across the enterprise: Established business rules and
processes are repeatable, reducing learning curves and promoting consistent quality products and
services.
9. Use standard collaborative tools sets: Training on and using common collaborative software tools sets
reduces training and maintenance costs while creating a common platform for data, information and
knowledge exchange within the organisation and with other partners and organizations.
10. Use open Architectures to permit access and searching across boundaries:- Create seamless and
ubiquitous service-on-demand when one client application requests services for another complementary
application.
11. Use a robust search capability access contextual knowledge and store content for discovery:
Information and knowledge bases should be accessible and searchable by search engines that deliver
contextual knowledge and information to all approved platforms and devices.
12. Use portals that permit single sign-on and authentication across the global enterprise including
partners: Using enterprise portal for access and authentication lessens confusions for users and
provides a standard process for accessing enterprise knowledge assets while reducing total cost of
ownership of other portals, websites or knowledge networks.
13. Use up-to-date and relevant materials to maintain the best know practices in light of present and
future challenges: If kept current, content and materials keep the organisation at the forefront of issues
needed to address a rapidly changing business environment.
Our knowledge management efforts focus on four key elements. Think of them as a recipe, not a menu,
because together they are essential for success.
 People: The most important factor in the success of any knowledge management system is getting
the people who need to be invested to share their knowledge shared by others in their organisation.
 Processes: Clearly defined, efficient and repeated processes for sharing and using knowledge and
use the knowledge shared by others in their organisation.
 Products: A knowledge product is an object that portrays what is known so it can be shared or
used. These may include resources, best practices, agendas, reports, information, and lists of “who
knows what.”
 Platform: The right technical platform for knowledge management must accommodate the people
using the system, allowing them to locate the information at the time they need it, quickly and
easily.

Leverage organizational knowledge through different approaches


There are two different approaches of organizational knowledge management i.e. Product centric
approach and Process centric approach. These are helpful for leveraging organization’s knowledge
assets. These two approaches are briefly described in the following:-

1. Product approach/ Content centered/ Codification approach


This approach implies that knowledge is a thing that can be located and manipulated as an independent
object. This approach mainly focuses on products and artifacts containing and representing
knowledge; usually, this means managing documents, their creation, storage and reuse in computer
based corporate memories.
The typical goal is to take documents with explicit knowledge embedded in them- memos, reports,
presentations, articles etc. - and store them in a repository where they can be easily retrieved.
Examples of companies that aim at a continual enhancement of their knowledge base – the collection
of best practices, methods and reusable work products-include General motors, Glaxo welcome and
Daimler Chrysler.
2. Process approach/ Collaboration/ Personalization approach
This approach puts emphasis on ways to promote, motivate, encourage, nurture or guide the process of
knowing and abolishes the idea of trying to capture and distribute knowledge. The main purpose of
information and communication technology (ICT) in this case comprise e.g., e-mail, video
conferencing, workflow management systems, group decision support system etc. Firms adopting this
approach in their KM initiatives, focus on the creation of communities of interest or practice to address
knowledge generation and sharing.