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KM Strategy and Metrics - Coggle Diagram
KM Strategy and Metrics
Introduction
- It discusses two more additions to the integrated KM Cycle :
- a sound KM strategy that is linked to the overall business objectives of the organization
- a good metrics framework to monitor progress toward those organizational goals
The two most commonly encountered objectives of knowledge management are innovation and reuse
- Innovation is closely linked to the generation of new knowledge or new linkages between existing knowledge.
- Reuse forms the basis for organizational learning and should be viewed more as a dissemination of innovation
A number of different types of business requirements may trigger the need for KM. The most commonly encountered business drivers include :
- Imminent retirement of key personnel.
- need for innovation to compete in a dynamic, challenging business environment
- Need for internal efficiencies in order to reduce costs and efforts
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KM Metrics
The Benchmarking Method
- is the search for industrywide best practices that lead to superior performance.
- is fairly straightforward KM metric that often represents a good starting point
Spendolini (1992) describes 2 different types of benchmarking :
- Industry Group Measurement : the measurement of various facets of your operation and comparing these to similar measurements.
- Best Practice Studies : studies and lists of what works best
- Cooperative Benchmarking : the measurement of key production functions of inputs, outputs, and outcomes with aim of improving them.
- Competitive Benchmarking : the study and measurement of a competitor without its cooperation for the purposes of process or product quality improvement
The balanced Scorecard Method
- is a measurement and management system that enables organizations to clarify their vision and strategy and to translate them into action.
- is a conceptual framework for translating an organization's vision into a set of performance indicators distributed among four dimensions
- Financial
- Customer
- Competitive Benchmarking
The House of Quality Method
- was developed to show the connections between true quality, quality characteristics and process characteristics
- this technique is also referred to as Quality Function Deployment (QFD) because it links the customer's needs with marketing, design, development, engineering, manufacturing and service functions.