Knowledge Management - Explained in 10 Minutes

Summary

This video script delves into the exponential growth of human knowledge and the importance of knowledge management in organizing it. It outlines three types of knowledge: explicit, implicit, and tacit, and explains how they are acquired and utilized in organizations. The script further discusses the four key processes of knowledge management: acquisition, storage, distribution, and application, emphasizing the role of a collaborative culture and technology in facilitating knowledge sharing and preventing knowledge loss. It highlights the significant financial implications of ineffective knowledge distribution and concludes with a recommendation for Document 360, a leading knowledge-based platform.

Takeaways

• 📚 The pace of human knowledge doubling has accelerated dramatically from every century in 1900 to every 12 hours by 2020.
• 🧠 There are three types of knowledge: explicit, implicit, and tacit, each acquired through different means and contributing to an individual's expertise.
• 🏫 Formal education is a primary source of explicit knowledge, imparted through teaching in educational institutions.
• 🛠 Once in the workforce, individuals apply their explicit knowledge, transforming it into implicit knowledge through practical application within an organization.
• 🤝 Tacit knowledge is acquired through experience and is often intuitive, requiring guidance from experienced individuals to be understood.
• 🏢 Key employees are vital assets to an organization due to their tacit knowledge, which is crucial for knowledge retention and avoiding knowledge loss.
• 🔄 Knowledge management involves four major processes: acquisition, storage, distribution, and application, all aimed at creating new knowledge.
• 🌐 Sociocultural factors and technology are two major influences on the effectiveness of knowledge management processes.
• 🔍 Knowledge acquisition involves identifying necessary knowledge and its sources, which can be both external and internal to the organization.
• 🗂️ Storage and organization of knowledge involve preserving it in shareable formats within databases or knowledge management platforms.
• 🔁 Knowledge distribution is critical and requires a culture of sharing to ensure that knowledge gaps are bridged and information flows effectively within the organization.
• 💡 The cultivation of a knowledge-sharing culture can significantly improve organizational productivity by encouraging the exchange of knowledge, skills, and experience.
• 💼 Failure to distribute knowledge effectively can lead to substantial financial losses for organizations, emphasizing the importance of a collaborative environment.

Q & A

What was the estimated rate of human knowledge doubling in 1900?

In 1900, human knowledge was estimated to double approximately every century.

How frequent was the doubling of human knowledge by 1945?

By 1945, it was said that human knowledge was doubling every 25 years.

What significant change occurred in the rate of knowledge doubling by 1982?

By 1982, the rate of human knowledge doubling had accelerated to every 12 to 13 months.

What is the current rate of human knowledge doubling as of 2020?

As of 2020, human knowledge is doubling every 12 hours.

What is the main challenge with the rapid increase of knowledge over the years?

The main challenge is organizing this vast pool of knowledge to make it easily accessible.

What are the three types of knowledge mentioned in the script?

The three types of knowledge are explicit, implicit, and tacit knowledge.

How is explicit knowledge typically acquired?

Explicit knowledge is acquired through formal education from educational institutions where it is passed to individuals through teaching.

What is the role of tacit knowledge in an organization?

Tacit knowledge is acquired through experience and is understood by working alongside someone more experienced in a field. It is not easily transferred and is a key asset to any organization.

What are the four major processes of knowledge management?

The four major processes of knowledge management are acquisition, storage, distribution, and application.

What are the two major factors that influence the knowledge management processes?

The two major factors influencing the knowledge management processes are sociocultural factors and technology.

Why is it important to cultivate a knowledge-sharing culture within an organization?

A knowledge-sharing culture improves productivity by encouraging the flow of knowledge, skills, and experience from those who have it to those who need it, leading to higher organizational productivity.

What is the estimated cost of failing to distribute knowledge effectively in organizations?

The failure to distribute knowledge effectively can cost organizations about 31.5 billion dollars a year.

How does the script suggest knowledge can be captured, stored, distributed, and applied within an organization?

The script suggests that by developing the right culture and having the right technology in place, knowledge can be captured through interviews or debrief sessions, stored in databases or platforms, distributed through channels that encourage sharing, and applied to improve overall productivity.

What is the role of Document 360 in the context of the script?

Document 360 is one of the leading knowledge-based platforms that provided valuable information for the script and has been recognized for its collaborative spirit and support in creating the video content.

Outlines

00:00

📚 Evolution of Knowledge and Knowledge Management

This paragraph discusses the exponential growth of human knowledge from doubling every century in 1900 to every 12 hours by 2020. It emphasizes the challenge of organizing this vast knowledge and introduces knowledge management as a solution. The paragraph outlines three types of knowledge: explicit, implicit, and tacit, and explains how they are acquired and transformed within an organization. It also highlights the importance of key employees in retaining knowledge and the role of knowledge management in preventing knowledge loss through processes of acquisition, storage, distribution, and application, influenced by sociocultural factors and technology.

05:01

🔄 The Dynamics of Knowledge Distribution and Its Impact on Organizational Productivity

The second paragraph delves into the critical process of knowledge distribution within an organization. It contrasts the storage of knowledge with the challenges of converting tacit and implicit knowledge into explicit forms that can be shared. The importance of fostering a knowledge-sharing culture is underscored, as it can significantly improve individual and organizational productivity. The paragraph warns against a competitive culture that may hinder knowledge distribution and emphasizes the benefits of a collaborative environment. It also discusses the financial implications of ineffective knowledge distribution, citing a figure of $31.5 billion in annual losses for organizations. The paragraph concludes with an example of how a motivated employee can contribute to knowledge management and ends with a collaboration acknowledgment with Document 360, a knowledge-based platform, highlighting their expertise and collaborative spirit.

Keywords

💡Knowledge

Knowledge refers to the understanding, awareness, or familiarity gained through experience or education. In the context of the video, it is the main subject matter, emphasizing the rapid increase of knowledge over the years and the importance of organizing it for accessibility. The script discusses the doubling of human knowledge and the challenges of managing it effectively.

💡Knowledge Management

Knowledge Management is the process of capturing, distributing, and effectively using knowledge. The video script outlines the four major processes of knowledge management: acquisition, storage, distribution, and application. It is central to the video's theme, as it discusses how organizations can retain knowledge and avoid loss through this systematic approach.

💡Explicit Knowledge

Explicit knowledge is knowledge that is articulated, formalized, and easily communicated. The script mentions it as the type of knowledge acquired through formal education and teaching, which can be easily documented and shared within an organization.

💡Implicit Knowledge

Implicit knowledge, also referred to as applied knowledge in the script, is the understanding that is gained through experience and is less easily articulated. It transforms from explicit knowledge when applied in a practical context within an organization.

💡Tacit Knowledge

Tacit knowledge is the intuitive knowledge acquired through experience and is difficult to transfer. The script explains that it is understood by working alongside experienced individuals and is a key component of an organization's asset, as it cannot be easily replicated or replaced.

💡Acquisition

In the context of knowledge management, acquisition refers to the process of identifying and obtaining the necessary knowledge. The script describes how organizations can acquire knowledge from both external sources, such as customers and experts, and internal sources, like employees.

💡Storage

Storage in knowledge management is the process of preserving and organizing knowledge in a central repository. The script illustrates this with examples like databases or knowledge management platforms, which allow for the input of new knowledge and output for access by those who need it.

💡Distribution

Distribution is the third stage of knowledge management, which involves setting up channels for the flow of knowledge within an organization. The script emphasizes the importance of a knowledge-sharing culture to ensure effective distribution and to avoid knowledge gaps.

💡Sociocultural Factors

Sociocultural factors are the social and cultural aspects that influence the processes of knowledge management. The script mentions these factors as major influences on how knowledge is shared and utilized within an organization, affecting the effectiveness of knowledge management.

💡Technology

Technology plays a crucial role in knowledge management, particularly in the acquisition, storage, and distribution stages. The script discusses the importance of having the right technology in place to support the processes and to facilitate the sharing and application of knowledge.

💡Collaboration

Collaboration is the act of working together, which is highlighted in the script as a key to a successful knowledge management culture. It contrasts with a competitive culture and is shown to improve productivity by encouraging the sharing of knowledge and skills among employees.

💡Document 360

Document 360 is mentioned in the script as a leading knowledge-based platform that the video was created in collaboration with. It serves as an example of a platform that supports knowledge management by providing tools for documentation, onboarding, and support.

Highlights

Human knowledge doubling rate has accelerated dramatically from every century in 1900 to every 12 hours by 2020.

The challenge lies in organizing the vast pool of knowledge to make it easily accessible.

Knowledge management is essential for organizing and retaining knowledge within an organization.

There are three types of knowledge: explicit, implicit, and tacit.

Formal education is the primary source of explicit knowledge.

Implicit knowledge is acquired through applying theoretical knowledge in practical scenarios within an organization.

Tacit knowledge is intuitive, acquired through experience, and not easily transferred.

Key employees are assets due to their tacit knowledge, which is crucial for organizational success.

Knowledge management involves four major processes: acquisition, storage, distribution, and application.

Sociocultural factors and technology significantly influence the knowledge management processes.

Knowledge acquisition involves identifying needed knowledge and its sources, both internal and external.

Knowledge storage aims to preserve acquired knowledge in shareable formats within databases or platforms.

Knowledge distribution is critical for bridging knowledge gaps and requires a culture of sharing.

A competitive culture among employees can hinder knowledge distribution and overall productivity.

Knowledge sharing culture improves individual and organizational productivity by encouraging the free flow of knowledge.

Failure to distribute knowledge can cost organizations significantly, affecting both large and small businesses.

Document 360 is highlighted as a leading knowledge-based platform with over a decade of experience.

Document 360 supports clients with onboarding, guidance, and support, emphasizing teamwork and collaboration.

The video was created in collaboration with Document 360, emphasizing the practical application of knowledge management.

Transcripts

in 1900 human knowledge was estimated to

double approximately every century

by 1945 it was said to be doubling every

25 years by 1982 human knowledge doubled

every 12 to 13 months and by 2020 it was

doubling every 12 hours

this rapid increase over the years means

that there is an endless pool of

knowledge

the problem now is organizing this

knowledge to make it easily accessible

and that's where knowledge management

comes in

but before we jump into understanding

the processes of knowledge management we

first need to take a really close look

at different types of knowledge

there are three types of knowledge

explicit implicit and tacit knowledge we

acquire knowledge in different ways and

from different sources

the most common source of knowledge is

formal education

this knowledge comes from educational

institutions where it is passed to

individuals through teaching and it is

referred to as explicit knowledge

then after the individual acquires this

explicit knowledge at the end of their

studies they get a job in an

organization where they begin to apply

their knowledge

at this point the knowledge transforms

from explicit or theoretical knowledge

to implicit or applied

knowledge as part of an organization the

individual begins to acquire new

knowledge

this new knowledge is acquired through

experience and it is called tacit

knowledge or intuitive knowledge

it is not easily transferred rather it

is understood by working alongside

someone who is more experienced in a

field

this means that key employees are the

real asset to any organization

and while it is impossible to retain all

people as some of them will retire while

others will change their job

businesses can utilize knowledge

management to retain the knowledge

within the organization and avoid

knowledge loss

knowledge management can be represented

in four major processes

acquisition storage distribution and

application

but altogether create new knowledge

there are also two major factors that

influence these processes and their

effective use of it those are

sociocultural factors and technology

let's look at the first stage of

knowledge management which is knowledge

acquisition

here it's important to identify the

knowledge that is needed and then where

it can be acquired

this knowledge could come from external

sources like customers and experts or

internal sources like the employees of

the organization

for example an organization could

realize that its sales are decreasing

over time

this is a big problem and an external

expert is invited to assess the

situation identify the cause and propose

the solution

alternatively a company could reach out

to their existing clients and ask for

feedback this could be really valuable

information to understand their needs

and provide better services of course

the most valuable source of knowledge

will be found in the minds of the

company employees especially those who

have been working with the company for

some

time one way of acquiring this knowledge

is through interviews or debrief

sessions with key employees

once acquired the knowledge can then be

stored in databases or knowledge

management platforms

and this takes us to the second step of

knowledge management

storage and organization

at this stage the organization has one

goal in mind and that is to preserve the

knowledge it has acquired

by now most of the acquired knowledge

has been converted into shareable

formats which are then stored

this could be a template or form that

needs to be filled in every time the new

customer is onboarded

or it could be a workflow document that

needs to be followed for a specific

project

the storage acts as a central repository

of knowledge with an output and an input

interface

the output interface allows stored

knowledge to be accessed by anyone who

is in need of the knowledge such as an

employee or customer while the input

interface allows the organization to

easily feed new knowledge into the

system to improve it over time

after acquiring and storing the

knowledge the next step is to set up

appropriate channels through which

knowledge flows within the organization

the transfer of knowledge in and out of

the system plays a central role in the

third stage of knowledge management

which is the distribution of knowledge

like every other stage of knowledge

management process knowledge

distribution cannot be overlooked

the reason is that unlike the storage

phase

knowledge distribution goes beyond just

having the right technology

this is because no matter how effective

the knowledge acquisition phase has been

there's bound to be knowledge gaps that

occur during the conversion of tacit or

implicit knowledge into explicit

knowledge the reason is that tacit and

implicit knowledge is difficult to

retrieve from the minds of those who

possess it and to ensure that knowledge

is distributed effectively an

organization must cultivate a knowledge

sharing culture among its employees

this culture will improve the

productivity of each individual team and

the entire organization by encouraging

the flow of knowledge skill and

experience from those who have it to

those who need it

many organizations encourage competition

among their employees because it is

believed to stir innovation and

creativity

however

such a culture could interfere with

knowledge distribution because the

employees believe that their knowledge

makes them an asset to the organization

this becomes a disadvantage to the

organization since they have to rely on

few employees with the right knowledge

as compared to having several employees

who can get the job done

so on one hand there is a collaborative

culture where employees socialize with

each other and share knowledge thereby

creating an organization with several

highly skilled employees leading to

higher organizational productivity on

the other hand there's a competitive

culture where employees compete with

each other and herd relevant knowledge

resulting in very few highly skilled

employees and a lower overall

organizational productivity

being that knowledge is the new currency

it is easy to see why failure to

distribute knowledge costs big

organizations about 31.5

billion dollars a year

this is a massive but avoidable loss

and while it might seem to affect only

big organizations small businesses and

even individuals could equally suffer

losses when their organization is

structured in a way that creates

competition rather than promotes

collaboration and knowledge sharing

knowledge sharing culture will encourage

and enable the free exchange of

knowledge insight and experience to

benefit individuals and the organization

as a whole

with the right culture and technology in

place knowledge can then be effectively

applied to improve the overall

organizational productivity

when people have access to the right

information at the right time then work

becomes easier as it means less stress

and more positive experience

this in turn motivates people to do a

better job and this is where new

knowledge is created

let's say i'm a motivated salesperson

and i follow a proven process to get new

clients

during one of my calls i find out some

important information about the industry

when a customer shares his existing pain

point

this piece of information is knowledge

that can be captured stored distributed

and applied by other employees within

the organization if the company has

developed the right culture and has the

right technology in place

this is how knowledge management works

this video was created in collaboration

with document 360 one of the leading

knowledge based platforms

the document 360 team provided me with

valuable information and i spoke with

some of the team members to get a better

picture of how knowledge management is

practically applied

their experience stretches for over a

decade and by continuously improving and

evolving they've been able to establish

themselves as one of the leading

knowledge based platforms in the world

so if you are considering knowledge

management for your project then you

should definitely check them out

while some businesses are only active to

the point their client makes a purchase

document 360 team will be there to

onboard guide you and support you along

the way

one of their core values is teamwork and

i could really feel the collaborative

spirit and warmness while working with

them

so i would like to say a massive thank

you to document 360 team for supporting

me in creating this video i will leave

the link to the website in the

description below

thanks for watching and i will see you

guys in another episode

you