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The threat of the Knowledge
Economy to traditional business
is real. Knowledge convergence
and management of common knowledge
are essential to accelerate
learning & innovation,
improve time-to-market and
maximize service quality.
Knowledge workers with decades
of experience can easily migrate
to any other location or organization.
People with adaptive minds
can park their knowledge anywhere
and become mobile. In many
ways, knowledge organizations
can lose their vital intangible
assets overnight. Organizations
without a KM initiative become
vulnerable to the turnover
of knowledge workers and become
victim to high-cost operations.
The following are some of
the key findings (Source:
Mirror Worlds Technologies
Inc., New Haven, Conn.; Gartner
Inc., Stamford, Conn.):
- When employees leave,
70% of their knowledge leaves
with them.
- Employees spend 30% to
40% of their time looking
for information.
- Redeveloping information
that already exists costs
approximately $5,500 annually
per employee and the average
document is copied nine
to eleven times.
How can any organization
survive this level of energy
waste in the face of both
price and quality pressures?
Embracing KM is the solution.
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