Driving Knowledge Management

Capturing and retaining institutional knowledge has been emphasized enough for organizations to maintain a competitive edge and increase their profitability. One aspect that is not mentioned enough is the need to continue evaluating and evolving existing knowledge in order to keep it relevant and prevent knowledge decay. In the highly fast-paced and competitive landscape, knowledge constantly evolves. However, the fact of the matter is that it is the existing knowledge that leads to its evolution. Therefore, knowledge decay can be detrimental to an organization’s goals and profit. Let us see below how organizations can prevent knowledge decay to stay competitive, innovative, and relevant to clients: Make a cultural shift to embrace learning and sharing : Learning, knowledge sharing, and collaboration should not be limited to the L&TD and knowledge management teams. Organizations should cultivate a culture of continuous learning and knowledge sharing among their employees. A well-de