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Creating a knowledge culture
Ask a group of senior executives if they regard knowledge management as very important to the success of a company. Most will enthusiastically say that they do—a response befitting one of the trendiest topics in management circles. Yet thinking that knowledge management is crucial and knowing what to do about it are very different. A McKinsey survey of 40 companies in Europe, Japan, and the United States showed that many executives think that knowledge management begins and ends with building sophisticated information technology systems.
The take-away: Effective knowledge management goes beyond information technology or special, one-time efforts. Successful companies (as reckoned by financial and other performance indicators) set ambitious goals for product development and process innovation and provide a range of financial and nonfinancial incentives for employees who share knowledge with colleagues.
Articles provided by The McKinsey Quarterly
© 1992-2003 McKinsey & Company, Inc
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