Jan 312017
 

AJ Rhem Logo with Tag LineKnowledge is recognized as a valuable asset in organizations across many industries. How knowledge is shared, leveraged, obtained and managed will be the difference in how successful and sustainable an organization will become. The use of knowledge management principles, practices and procedures has expanded enormously in recent years. This expansion has also brought about the proliferation of knowledge management systems in its many forms, Contact Center Knowledge Repositories, Expertise Locators, Content Management, Document Management, Knowledge Repositories/Libraries, Social Media Applications, Decision Support Systems, to name a few. The inclusion of KM from a strategic point of view to streamline revenue, increase revenue, improve performance, attract/retain customers and manage human capital have enabled organizations to maintain and/or improve their competitive edge. Knowledge Management in Practice is a resource which presents how KM is being implemented along with specific KM Methods, tips, techniques and best practices to get the most out of your KM investment.

This blog post features two videos from the presentation of my latest book: Knowledge Management in Practice. This presentation was conducted at the Knowledge Management Institute (KMI) Certified Knowledge Manager (CKM) training class held in Washington DC.

The second video features the question and answer session that followed. Feel free to ask questions regarding the book here on this blog and/or make comments on YouTube. I look forward to hearing from everyone!

 

 

 

 

Aug 312016
 

Knowledge Management in Practice by Anthony J RhemKnowledge is recognized as a valuable asset in organizations across many industries. How knowledge is shared, leveraged, obtained and managed will be the difference in how successful and sustainable an organization will become. This book is a culmination of my years of experience within the knowledge management (KM) discipline. Since 1998 I have been involved in knowledge management, from researching, developing processes for capturing and codifying knowledge, developing knowledge management systems, developing and operationalizing knowledge management strategies across several industries, writing articles, books, developing and teaching KM curriculum and speaking at numerous KM conferences.

My latest book Knowledge Management in Practice covers how knowledge management is leveraged in several industries. An examination of the various uses of KM practices, policies, procedures and methods including tips and techniques to create a competitive advantage are presented. The industries that are covered include first responders, military, healthcare, Insurance, financial services, legal, human resources, merger and acquisition firms, and research institutions.

Essential Knowledge Management concepts are also explored not only from a foundational perspective, but from a practical application. These knowledge management concepts include capturing and codifying tacit and explicit knowledge, KM methods, information architecture, search, KM and social media, KM and Big Data, adoption of KM, and why KM Initiatives fail.

The following are the subjects that are covered and what you can expect from the various chapters:

  • The Case for Knowledge Management (KM): Chapter 2 – The Case for Knowledge Management details the factors you must consider to in order to make the case for your organization to start instituting KM and its various practices and policies. This chapter details what will be necessary for your organization to either launch a KM initiative/project, and/or establish a KM program.
  • Being Social – KM and Social Media: Chapter 3 – In this chapter KM and Social Media examines how social media tools and techniques are becoming facilitators of knowledge for the organization. In this chapter specific guidance and insight is given to develop your organizations social media strategy and to determine the social media tools, techniques and platforms that can be utilized to begin taking advantage of what social media can bring to KM.
  • Dude, where’s my car: Utilizing Search in KM: Chapter 4 – Utilizing search in KM details the importance of search in knowledge management and in particular a knowledge management system. Several aspects of implementing search are examined including the importance of having user centric information architecture.
  • The Age of Discovery: KM in Research Institutions: Chapter 5 – Research institutions play a key role in product innovation. Knowledge Management is a catalyst to stimulating and sustaining a high level of innovation. This chapter examines how KM is utilized; focusing on various KM methods that can and in some cases are being incorporated at research institutions.
  • Where has all my experts gone? – KM in Human Resources and Talent Management: Chapter 6 – When it comes to talent management KM can play a critical role in ensuring the knowledge assets are captured and made available to the enterprise. KM in talent management when applied holistically involves capturing and sharing employee knowledge from onboarding to exit interview.
  • Sound the Alarm! – KM in Emergency and Disaster Preparedness: Chapter 7  – Emergency and disaster preparedness is enhanced through the incorporation of knowledge management. Putting the right knowledge in the right context at the right time in the hands of First Responders could be the difference in saving lives and preventing casualties. It is important to begin with a comprehensive KM strategy in order to establishing a plan to deliver the knowledge in a timely manner.
  • Happily Ever After – KM in Mergers and Acquisitions: Chapter 8 – When organizations merge or are acquired there is a level of uncertainty both from a macro (organization) level and from a micro (employee) level. Applying KM to mergers and acquisitions will enable the organization to know what knowledge is important to retain, who those knowledge holders are, what are the knowledge gaps and how to quantify the knowledge of the organization. From an employee standpoint having the organization share knowledge about the pending transaction as well as incentify employees to share what they know and to assist employees in transitioning (within the new organization or to a new organization) will go a long way to ensure a smooth M&A transaction.
  • Is there a Doctor in the house? – KM in Healthcare: Chapter 9 – Healthcare has become focused on the individual. As the healthcare community moves to electronic record keeping and capturing patient information at the point of initial interaction; having accurate knowledge about that patient as well as having the patient knowledgeable about his/her own health is essential to the success of caring for that patient. KM is an essential ingredient for healthcare success, especially in the areas of drug interaction analysis, sharing of patient diagnosis between hospitals and doctors, and furthering the development of healthcare informatics.
  • Show me the Money! – KM in Financial Services: Chapter 10 – Knowledge Management in the financial services sector centers on being able to attract, serve and retain customers. By delivering the tools to customers that provide knowledge in order to make sound financial decisions is at the heart of what KM will provide. In order to bring innovative financial services and products to the marketplace and have an understanding of how it will best serve and benefit the customer; putting specific knowledge at the fingertips of employees serving the customer will also be critical component of what KM will bring.
  • Are you in Good Hands? – KM in Insurance Industry: Chapter 11 – In this chapter you will learn how KM in the insurance industry is used to communicate knowledge to customers, agents and customer contact centers while providing mechanisms for employees to share, capture and catalog knowledge. KM in the insurance industry will provide the knowledge to (among other things), complete applications, bind insurance, and service a claim.
  • Sign Right Here! – KM in the Legal Profession: Chapter 12 – In this chapter an examination of how KM can/should be used to enhance the management of a law firm and execute on client engagements will be presented. KM in law firms is primarily executed through the building and fostering communities of practice around practice specialties. This enables legal representatives to respond to a situation with the right expertise, equipped with the right knowledge to resolve a legal matter.
  • Get That Knowledge! – Knowledge Management Education: Chapter 13 – This chapter examines the state of knowledge management education. This examination includes KM certification programs, KM curriculum at institutions of higher learning, as well as KM education policies, procedures and future direction of KM education. In addition this chapter will present specific criteria to consider when selecting a KM education option.
  • Big Knowledge! KM in Big Data: Chapter 14 – In this chapter an examination of how KM can and should be used to gain knowledge from your Big Data resources will be presented. How KM will be used on Big Data to provide a rich structure to enable decisions to be made on a multitude and variety of data is the essence of this examination. Along with specific analysis of the various types of data and KM methods for examining this data, a detailed understanding of KM’s impact on Big Data can be realized.
  • What have you done for the War Fighter Today? – KM in the Military: Chapter 15  – There is a rich history when it comes to KM in the Military. An examination of how KM in the military is being used with special attention to such events as Base Realignment and Closures (BRAC) will be examined. In addition a look at the various branches of the military (Army, Air Force, and Navy) and their KM Strategies, KM systems and KM methods are presented.
  • Drinking the KM-Kool-Aid: Knowledge Management Adoption: Chapter 16 -Adoption of KM programs, policies, methods, and systems, is a challenge for all organizations. This chapter is all about adoption! If your organization does not adopt its KM principles, practices, processes, procedures or systems that deliver KM they may be recognized as a failure. This chapter will present specific guidance on how to improve KM adoption and how to position your KM initiatives for success.
  • Failure is not an option! – Why KM Projects Fail: Chapter 17 – With lofty promises come unrealized results. Knowledge Management gained widespread popularity in the 90’s, however many KM initiatives failed and this popularity has tapered quite a bit. Since the mid 2000’s a renaissance of KM began to occur, some disparate KM success started to be achieve (call centers, research, human resources, military ) and KM is now considered as a discipline to use as a competitive advantage. Although KM is being used with some success in this new knowledge economy, many KM initiatives still fail. This chapter details the factors that contribute to KM initiatives failing as well as measures to adhere to in order to achieve KM success.

Included in this publication is an in-depth synopsis of each chapter and an overall introduction to the book in chapter 1. The book concludes with chapter 18, which offers a summary of the book and insight on what’s next for knowledge management.

For those individuals and organizations who have purchased my book I would like to thank you and invite you to ask me questions about the material covered in the book and/or any KM questions that are on your mind.

Oct 312015
 

Fin ServFinancial service enterprises operate in a highly challenged market where consolidation, increasing regulation and economic realities are negatively impacting their ability to achieve key objectives. This has created a culture where there is a constant need to find more predictable revenue streams and cost efficiency gains.

Regulatory bodies such as the Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the various international bodies’ present challenges to financial service organizations to deliver fair and open products and services, while providing answers, and direction to the various customers interacting with their organizations. In order to address these challenges knowledge management is needed to streamline processes and deliver content at the right time, in the right way and in the right context to meet the demand of customers.

In meeting the demand for customers, it is increasingly important for financial services organizations to address customer needs. KM through the implementation of processes and technology (including Information Architecture – see Chapter 4) will ensure customer information is shared with the right people at the right time across the organization. By utilizing a customer-focused, integrated knowledge management system, all employees interacting with a customer will have up to date knowledge of that customer’s breadth of relationship and experience with the organization. This will assist the organization with cross selling, up selling and reporting on the effectiveness of any new customer initiatives.

In addition the staff must start (if they are not already doing so) working together using knowledge as a focal point to service the customer. With this emphasis, as more financial products and services become available through mobile devices the ability for those financial companies to respond rapidly to customer demands with the right answers, at the right time, and in the right context will be met. 

Empowering Employees to Satisfy Customers

The objective of knowledge management is to capture knowledge of different stakeholders of the organization and make it explicitly available to all employees. Sharing of knowledge will enable improved and quicker decision making. Employees empowered with improved decision making will increase the ability to address customer needs and create more satisfied customers. Empowering your employees through knowledge management will assist your organization in addressing competition driven by reduced barriers to switch companies, the proliferation of products and product commoditization, mergers and acquisitions and the ever changing product portfolios, and shifts in customer behaviors.

Financial services organizations (including banks) value of Knowledge Management as a business practice. From managing intellectual capital, to the vast array of customer data, one of the goals of KM is to enhance customer satisfaction and increase revenue.

Whether the organization is regional or global, a key aspect of your business and specifically your KM strategy must be to treat each client as an individual with individual needs. By implementing a comprehensive KM program and associated processes and systems a determination as to which customers are most likely to buy which products, who is at risk of leaving, which unprofitable clients are most likely to be profitable, and who is most likely to respond to which marketing campaigns based on their demographics, can start to be addressed and the organization will have a sustainable model for success!

Knowledge management practices, policies, procedures and applications all aimed at delivering financial services that enable people to build financial stability should be the focus of all financial services organizations. This chapter focuses on the use of Knowledge Management (KM) within the financial industry and will present how KM is being leveraged to increase sales through customer satisfaction, capturing and cataloging knowledge for a personal interaction, the advantage of creating and leveraging communities for improved employee performance and extending your knowledge to customers to provide self-service provides a competitive edge.