Why knowledge management & sharing is crucial for an organization?
Knowledge is considered as a power, but it becomes more powerful when it is shared! If only one person in the organization knows how to do something, that prevents others from developing and can hinder the organization’s progress.
Knowledge sharing is crucial for an organization to achieve success, since it can be useful in decision-making, build learning facilities and finally, stimulate cultural change and innovation.
Therefore, managing knowledge properly can bring a lot of benefits to an organization. Below are the list of benefits of knowledge sharing considered as the most important and able to influence the way an organization works, in a positive way.
- Makes the organization’s best problem-solving experiences reusable
- Enables better and faster decision making
- Stimulates innovation and growth
- Improves delivery to customers
- Reduces the loss of know-how
- It helps to build a community and learning culture
- It boosts productivity and cuts down on repeat mistakes.
- Helps to communicate important information quickly and ensure you reach everyone.
- It promotes consistent and repeatable practices that employees can easily follow.
- It allows people to easily search for and find the knowledge they need, when they need it.
The only thing to do with good advice is to pass it on. It is never of any use to oneself. – Oscar Wilde
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