By Sonya Rabbitte, 30 May 2000 00:20
NEWS UK companies realise the benefits of knowledge management but are failing to implement strategies, according to the latest report from the Cranfield School of Management. The Microsoft-sponsored survey indicated that while 80 per cent of companies recognise the importance of using corporate data, only 50 per cent discuss it at board level. Additionally, just 28 per cent have adopted company-wide knowledge management strategies. According to David Bridger, knowledge management manager at Microsoft, many companies are unaware of how to develop an effective strategy. "The key starting point is to identify where in their organisation knowledge management will deliver the most value," he said. The report cites email as the technology of choice for communicating ideas, and the shift from information processing to multimedia applications such as desktop video conferencing and CRM software. The public sector was found to be the most under-performing industry, while the financial sector is performing well. Organisations focusing on customer care, rather than on cost saving, fared best in commercial terms, but there is still plenty of room for improvement on innovation and growth. According to Bridger, the implications of poor knowledge management strategies could be severe. "The government has been talking about knowledge and skills and creativity as being very critical to the long term success of the British economy. "The growth of the Internet is driving globalisation and increasing exposure to companies all over the world. If UK businesses are not using knowledge management effectively we will be hampered in our success as an economy," he said.
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