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Knowledge Management

Knowledge Management

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Knowledge Management

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  1. Knowledge Management Chuck Audet Amy Schoenbeck Matt Eilerman Josh Baclesse

  2. KM Vital to Success • “…79% of the CEOs surveyed in 1999 by the American Management Association believed that knowledge management was vital to the success of their company.” Source: “Networked knowledge.” CMA Management, Feb 2003.

  3. Spend on KM (In Billions of Dollars) Source: "Document and Knowledge Management: After-hype: KM Enters Critical Phase," Computing Canada, April 14, 2000.

  4. What is Knowledge Management? “Knowledge management involves the capture of your organization’s information and experience so that it becomes part of your organization’s know-how and expertise which can be pooled, disseminated and used by your skilled staff in doing and winning profitable business.” Source: www.retaininternational.com

  5. Knowledge Hierarchy Knowledge Information Data

  6. Data • Raw data is the simplest and most abundant component of a knowledge management system • “Data on its own has no meaning…” Source: The Free On-line Dictionary of Computing

  7. Information • Once organized and defined, data becomes information. • “Data on its own has no meaning, only when interpreted by some kind of data processing does it take on meaning and become information.” Source: The Free On-line Dictionary of Computing

  8. Knowledge • Information that has been processed. • “If information is data plus meaning then knowledge is information plus processing.” Source: The Free On-Line Dictionary of Computing

  9. An Example to Clarify… • “1234567.89’ is data. • ‘You’re bank balance jumped 8,087% to $1,234,567.89’ is information. • ‘Nobody owes me that much money’ is knowledge.” Source: The Free On-Line Dictionary of Computing

  10. Two Kinds of Knowledge • Explicit Knowledge • Tacit Knowledge

  11. Explicit Knowledge • “As a general rule of thumb, explicit knowledge consists of anything that can be documented, archived and codified, often with the help of IT.” • Examples of Explicit Knowledge include: • Any step-by-step process that has been documented • Company policies and manuals Source: “The ABC’s of Knowledge Management”

  12. Tacit Knowledge • “… The know-how contained in people’s heads.” • Examples of Tacit Knowledge: • Knowing how to hit a baseball • Knowledge in any job where you can skip steps/contacts to get what you need more quickly Source: “The ABC’s of Knowledge Management” and Reference 5.

  13. What is Knowledge Management Trying to Solve? • The problem of spending more time trying to find information than actually using it. • Increase consistency of information/standardization of processes in order to improve efficiency and/or effectiveness. • Retain knowledge as workers retire or leave the company. • Avoid “re-inventing the wheel.” • Increase efficiency of accessing the specific information that workers need. Sources: www.retaininternational.com and References 3 and 5.

  14. What is Knowledge Management Trying to Solve? • Goals of KM at Maritz: • Streamline and improve internal communications • Increase cost savings through reduction in redundancies • Goals of KM at Edward Jones: • Increase business process efficiencies • Increase globalization/standardization of business practices

  15. Different Aspects of Knowledge Management • Creation and Capture of knowledge • Sharing of information • Codification of information • Protection of information • Retrieval of information • Ability to update information easily Sources: See References 2 and 3.

  16. Why Knowledge Management? • Old Knowledge Equation: • “Knowledge = Power, so hoard it.” • New Knowledge Equation: • “Knowledge = Power, so share it and it will multiply.” Source: See Reference 1.

  17. The Benefits of Knowledge Management “An effective KM program should help a company do one or more of the following: • Foster innovation by encouraging the free flow of ideas • Improve customer service by streamlining response time • Boost revenues by getting products and services to market faster Source: “The ABC’s of Knowledge Management”

  18. The Benefits of Knowledge Management (con’t) • Enhance employee retention rates by recognizing the value of employees knowledge and rewarding them for it • Streamline operations and reduce costs by eliminating redundant or unnecessary processes.” Source: “The ABC’s of Knowledge Management”

  19. The Challenges of Knowledge Management • Most difficult challenge appears to be getting employees to “buy-in” that KM benefits them • Determining what is and what is not useful information • Deciding what information should be retained • What quantities of information to retain Source: “The ABC’s of Knowledge Management”

  20. Maritz Inc. Case Study

  21. Maritz Inc.History • 1894-E. Maritz Jewelry Mfg. Co. - wholesaler and manufacturer of jewelry and watches • 1929-company nearly fails when stock market crashed-forced to take new direction-offers merchandise to large corporations as sales incentives and service awards • 1950s-purchased small Detroit travel co.-Maritz added group travel as incentive award • As 60s ended, Maritz had laid groundwork for ventures in communications, marketing research, training and meeting production

  22. History cont. • Established a presence in Europe and opened a travel office in Mexico • 1981-several acquisitions made Maritz a major supplier of corporate travel services • Today-Maritz operates across three major lines of business, Performance Improvement, Travel, and Marketing Research http://www.maritzonline.com/website/Selling%20Tools/About%20Maritz/Maritz%20Facts%20and%20Statistics/Maritz%20History/index.html

  23. Maritz Performance Improvement Co. • World’s largest provider of incentive services to improve the performance of employees, channel partners, and customers who use the client’s products. • Primary services-merchandise and travel awards, learning systems, communications, and fulfillment • Primary industries served-automotive, telecommunications, financial services, and hi tech http://www.maritzonline.com/website/Selling%20Tools/About%20Maritz/Maritz%20Facts%20and%20Statistics/Fact%20Sheet/index.html

  24. Maritz Travel Co. • Global leader in providing meeting, event and incentive travel programs to help clients achieve business results through sales meetings, product launches, incentive award programs, technology conferences and more • Primary services-meeting, event and incentive travel programs http://www.maritzonline.com/website/Selling%20Tools/About%20Maritz/Maritz%20Facts%20and%20Statistics/Fact%20Sheet/index.html

  25. Maritz Research • Largest marketing research firm in the U.S • Provides large-scale qualitative and quantitative research, brand studies, customer satisfaction and customer loyalty studies • Primary industries served-automotive, financial, telecommunications, healthcare, hospitality, and technology http://www.maritzonline.com/website/Selling%20Tools/About%20Maritz/Maritz%20Facts%20and%20Statistics/Fact%20Sheet/index.html

  26. Company statistics • Multinational company headquartered in Fenton, MO with 240 offices worldwide in a total of 42 countries • Approximately 6,000 employees worldwide • Ranked 157 in 2000 Forbes listing of “500 Biggest Privately Help Companies” • Clients include 40 of the 50 largest companies in the world Source: http://www.maritzonline.com/website/Selling%20Tools/About%20Maritz/Maritz%20Facts%20and%20Statistics/Fact%20Sheet/index.html

  27. Revenues (in Billions)

  28. IT at Maritz • 700 FT domestic employees • Additional 125 employees located in Canada and UK • 58 contractors devoted to application development Source: Gil Hoffman, CIO of Maritz Inc., interviewed in person by Amy Schoenbeck, February 24, 2003

  29. IT Spend at Maritz • Annual IT budget is $99.2 million – 7.34% of revenues in ‘02 • $60 million devoted to application development labor • $39.2 million devoted to infrastructure Source: Gil Hoffman, CIO of Maritz Inc., interviewed in person by Amy Schoenbeck, February 24, 2003

  30. Organization Chart http://www.maritzonline.com/website/Support%20Services/Organization%20Charts/Maritz%20Inc/Maritz%20Global%20Technology%20Services.xls

  31. KM at Maritz • First intranet site – December 1997 • 19 independently operated intranet sites across the organization • As they developed, there was less and less uniformity • Costly to maintain • Difficult to share information and keep it all current Source: Gil Hoffman, CIO of Maritz Inc., interviewed in person by Amy Schoenbeck, February 24, 2003

  32. Transition to Central Portal • November 19, 2002 - 19 websites condensed into one main portal • Content Management Tool • Developed new mission and goals related to this new site Source: Laura Carter, Webmaster of Maritz Inc., interviewed in person by Amy Schoenbeck, February 26, 2003.

  33. Mission • “To help generate revenue and profit by providing an easy-to-use repository of tools and information for Maritz people whose job is to understand, sell, and profitably deliver our product/service offering” Source: handout from interview with Laura Carter and Marty Ewell on February 26, 2003

  34. Create brand identity Cross sell between BUs by using a common easy to use navigation Develop international shared resources Improve inter-organizational alliances Streamline and improve internal communications Cost efficiencies (labor hours) through reduction in redundancies Goals of the New KM tool Source: handout from interview with Laura Carter and Marty Ewell on February 26, 2003

  35. Gauss Technology • “Gauss is a recognized market leader of Enterprise Content Management (ECM) software that supports the optimization of business processes across and between organizations” • Used to develop new portal • Quick and easy to develop, though unfamiliar to most Maritz programmers-could add new portal in one week with a small team www.gaussinterprise.com/Company/index.htm, viewed March 19, 2003.

  36. Gauss VIP Content Manager • Professional mgmt system for creating and maintaining websites. • Enables users to create, manage and publish websites in a short period of time using applications such as Dreamweaver or MS Word. • Includes Portal Manager, to integrate dynamic components and personalize content, and Content Miner, a Search Engine component. http://gauss.maritz.com/home.html

  37. Gauss VIP Content Manager • Provides quality-assured content and design based on a three-server concept (edit, QA and production). • Handles the administration of websites, users and access rights. • Allows design experts, SMEs and programmers to work simultaneously without stepping on each other. http://gauss.maritz.com/home.html

  38. Benefits of New Central KM Portal • Content manager • Updates can be added to certain users/groups • Quicker access to information • Easier navigation among site • Uniformity among portals Source: Marty Ewell, System Architect of Maritz Inc., interviewed in person by Amy Schoenbeck, February 26, 2003

  39. Problems with new KM Portal • Getting employees to take full advantage of resources • Overall, new portal has been very successful • Minor glitches, but nothing major Source: Gil Hoffman, CIO of Maritz Inc., interviewed in person by Amy Schoenbeck, February 24, 2003

  40. Knowledge Security vs. Open Information Sharing • Fewer content managers to control information posted on the site • Postings can be selectively made to certain users/groups Source: Marty Ewell, System Architect of Maritz Inc., interviewed in person by Amy Schoenbeck, February 26, 2003

  41. Future Vision • Optimization of business process across entire company • Enable re-use of content • Common interface • Consistent communication across entire company Source: handout from interview with Laura Carter and Marty Ewell on February 26, 2003

  42. Future Vision • Support ISO process for company-wide use • Cost Savings • ITcost savings (infrastructure, administration, and maintenance) • Business process cost savings • “Soft” benefits accrued by BU’s (reduction in search time, increased knowledge sharing and visibility) Source: handout from interview with Laura Carter and Marty Ewell on February 26, 2003

  43. Lessons Learned • Minimize number of users who have ability to update intranet • In order to get employees to use all the resources, information must be up-to-date and easy to access Source: Gil Hoffman, CIO of Maritz Inc., interviewed in person by Amy Schoenbeck, February 24, 2003

  44. Case Study Edward D. Jones Investments Mission: To provide the investments, services, and information individuals need to achieve their financial goals

  45. Company Background and Overview • Financial Services firm founded in 1871 • Headquarters in St. Louis • Largest brokerage firm in the U.S. headquartered outside of NY • Only national brokerage firm that serves individual investors exclusively • Operated as a partnership http://www.edwardjones.com/cgi/getHTML.cgi?page=/USA/careers/ej_story.html

  46. Offices • More than 8,800 offices throughout the U.S., Canada, and United Kingdom • Over 25,000 employees • Growth rate of 200+ new branch offices per month Source: Matt Eilerman, Edward Jones, April 1, 2003

  47. Growth Source: Edward D. Jones Investments

  48. Industry RankingsAmong All Firms: • No. 1 in offices • No. 4 in employees • No. 5 in brokers • No. 34 in capital Source: Matt Eilerman, Edward Jones, April 1, 2003.

  49. Industry RankingsAmong Regional Firms: • No. 1 in offices • No. 1 in employees • No. 1 in brokers • No. 13 in capital Source: Matt Eilerman, Edward Jones, April 1, 2003.