The power of
knowledge is well known to all of us. How we distribute knowledge within our
business can be a very efficient way of managing risk. If critical business
knowledge is housed within different
organizational functions without a conscious way of sharing the
knowledge creates these “knowledge
power” islands within the business.
He or she who has
the knowledge, has the power and how this power is used can be for the good or
be most harmful. Information technology departments often use this knowledge
power to their advantage either unconsciously
or other wise to dictate what will be done or wont be done whether it is
for the common good or not.
Another example of
knowledge power may be found in the finance department. The knowledge of how
certain decisions impact both the income statement and the balance sheet can
significantly change the decision. Often these core concepts are not shared
with significant consequences that could have quiet easily have been prevented
in the first place.
This might be a good
time to introduce the "blind spot" which can be defined as knowledge
know by some, but not by others.
The blind spot will
always be there but how well we create an environment for common knowledge to
manifest itself will be an important factor in reducing the blind spot risk.
in order to do your common knowledge audit.
Please consider how each of these business systems empower knowledge sharing.
• Business
strategy knowledge
• Process
knowledge
• Information
access capabilities
• Policy
knowledge
• Measurement
and expectation knowledge
• Financial
performance knowledge.
The greater the
degree of common knowledge throughout the organization the more effective the
business is in getting things done the right way.
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