A search for 'knowledge managemen in your reliable Merriam-Webster online dictionary says, 'The word you've entered isn't in the dictionary.'

Wikipedia, however, says,” Knowledge management (KM) comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. Such insights and experiences comprise knowledge, either embodied in individuals or embedded in organizations as processes or practices.”

Finally, a white paper by Meredith Levin, former senior editor for CIO.com, says, “Unfortunately, there's no universal definition of knowledge management (KM), just as there's no agreement as to what constitutes knowledge in the first place. For this reason, it's best to think of KM in the broadest context.”

The word “knowledge” embodies that broader meaning, a concept that has passed on from the philosophers of old to the CEOs of the new millennium.

“It's important to note that the definition says nothing about technology; while KM is often facilitated by IT, technology by itself is not KM,” Levin wrote. “Some benefits of KM correlate directly to bottom-line savings, while others are more difficult to quantify. In today's information-driven economy, companies uncover the most opportunities — and ultimately derive the most value — from intellectual rather than physical assets.”

In six Best Practices Solutions offered by Primus, a tech company with a vested interest in software to store knowledge, there was recognition that all knowledge management success is people-based:

1. Knowledge access, capture, use, and improvement are a natural part of the support center’s work processes.

2. Existing information throughout the company — even from isolated silos — is available to the people seeking it.

3. Executives actively support the knowledge initiative and commit the necessary resources to ensure long-term success.

4. Management recognizes that knowledge-based support may entail a shift in cultural values and facilitate the transition.

5. The knowledge initiative rewards knowledge workers for their participation.

6. The knowledge management system includes analytical tools to report results and document areas that need improvement.

In an on-demand world, it’s still a toss-up over what will win out.

“According to the 2010 AIM study, 60% of respondents find it easier to locate ‘knowledge’ on the Web than on internal systems, and 59% agree that social networking will make a dramatic change to business life in the next few years,” an IntelligenceBank white paper reported.

Really, “knowledge management” is about much more than storing data.

Linda Quigley, OI Partners Newsletter Editor, is an award-winning journalist who spent 30 years as a newspaper reporter and editor. She began her career in newspaper journalism in her hometown, Florence, Ala., in 1970, and finished it in 2000, after working 14 years as a features writer at The Tennessean in Nashville. She joined the journalism faculty at Belmont University where she serves as adviser to the student newspaper, the Belmont Vision, and teaches classes in writing and editing.

About OI Partners

OI Partners is a leading global coaching and leadership development/consulting firm that helps individuals find new careers and employers to improve the performance of their employees and organizations. OI Partners specializes in career transition programs, executive coaching programs, executive development, leadership development and other staffing solutions. The company was established in 1987 and is now located in 200 offices in 27 countries with close to 100 U.S. offices.

Please visit www.oipartners.net or call 800-232-5285