Executive Education

Why Do We Need Knowledge Management?

Similar to customer relationship management, knowledge management is an enabler for identifying and satisfying customer’s needs and manifests itself as a significant driver that motivates the development of relationships with customers. Scholars have proven that executives can use knowledge management to improve customer satisfaction through acquiring additional knowledge from customers, developing better relationships with them, and providing a higher quality of service and/or products for them.

The key function of knowledge management is to help executives use it for employee development. In this context, training is becoming the forefront to success in organizations worldwide. The more training the better the return on investment to shareholders. Why is this, you may ask? Because learning is a process that leads to acquiring new insights and knowledge, and potentially to correct sub-optimal or ineffective actions and behaviors that cause companies to spiral out of control.

How can we establish the relationship between knowledge management and organizational learning? Well, Scholars suggest a learning-based approach to knowledge management to understand how organizational learning is related to various processes of knowledge management. More importantly, the effective implementation of knowledge management requires learning and sharing of best practices and experiences among employees and thus enhances overall organizational performance. However, a more comprehensive model needs to be introduced to put together the various aspects of potential contributions to organizational performance. Effective organizational learning requires various processes such as knowledge acquisition, collaboration, dissemination, sharing, generation, and storage to acquire knowledge within an organization. Thus, knowledge management improves organizational processes through various practices and can also enhance organizational learning that increases both follower engagement and personal development.

This article is about getting the information needed to be successful in the right hands of executives worldwide. Some scholars emphasize that knowledge management is tantamount to executive’s success. I found that knowledge management is a latent concept but one of great importance to executives. For the scholar’s corner, I place a great deal of emphasis on the literature on knowledge management as a significant indicator for corporate learning. Thus, this article adds to a relatively small body of literature but pays homage to the scholarly contributions.

Written by Mostafa Sayyadi. Have you read?
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Mostafa Sayyadi
Mostafa Sayyadi, CAHRI, AFAIM, CPMgr, works with senior business leaders to effectively develop innovation in companies and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders.

Mostafa Sayyadi is an opinion columnist for the CEOWORLD magazine. You can follow him on LinkedIn.