There are many solutions for Knowledge Management (KM) ranging from a simple to sophisticated system that can help develop and manage the entire knowledge capital. Hence, it is important to embrace effective KM solution by focusing on identifying all the pain points of an organization. We should be aware of what we know, what we need to know, why we need to know, how we can gain knowledge and what are its value to our organizations.

The following diagram depicts an effective KM at a very high level. Understanding its depth and identifying a solution to address effective KM is more important for the success of any organizations.

• Every business has many business functions such as strategy, planning, research, development, marketing, service, administration, training and so on.
• Each of these business functions involves extensive knowledge. There is always room for improvements, need for creativity and need for learning. Every function can be better and different when it is systematically approached.
• Managing the knowledge and needs involves various stages (knowledge life-cycle) from strategy to measuring its value. Lack of linkage between our actions and business needs drains our energy and makes our effort a futile exercise.
• Addressing the KM processes through best practices and knowledge life cycle in a systematic and innovative manner helps to meet the business challenges.
• KM is not about Business Process Re-engineering (BPR) but it is about identifying the knowledge activities in each of the business processes.

• Human capital forms the core part of business processes. Everyone is involved in learning and development.
• Knowledge is becoming increasingly complex but the time available to develop, manage and utilize the knowledge is becoming shorter and shorter.
  
• These increasing complexities drive people to work in team and in harmony not only for execution but also for learning and thinking. Developing personal mastery and team mastery will take us towards our goal.
• Everyone has the capability to dream, learn, execute and communicate but connecting what we learn with other's learning is a challenge. It is essential to make everyone to perform at their optimum level.
• Whenever a team is involved in any of these processes, a common platform or a consistent model is needed to minimize chaos and maximize result. People can be part of the system unconsciously.

• Core-competency is nothing but a combination of team capacity and collective intangible assets driven by a system that includes people, people and products (technology).
• It is the combination of people, knowledge and processes. It can also be called as "7th sense" or "organization's knowledge base in action". Knowledge is ultimately delivered in the form of products, contents and services.
• Developing core-competency takes time. Working as "one team" and building core-competency makes organization unbeatable.
• Proper understanding and implementation of KM is essential for this development.
• Core-competency should be in the subconscious mind of the organizations to ensure that the people naturally perform and embrace a common model to reach the common target without difficulties.

Lpcube KM Solution, designed based on Lpcube KM Maturity Model (KMMM), addresses effective KM. It is sophisticated, comprehensive, integrated, innovative and valuable.