A recent report from the Management Consultancies Association predicted that the company of the future will be the 'knowledge company' whose core activity will focus on the capture and retention of its most valuable asset: knowledge. For the growing company, knowing exactly what you know is a gnawing concern. The hectic pace of expansion often leaves little time for introspection, but if knowledge isn't shared, the result is duplicated effort and a vacuum when somebody leaves. So what can you do?
FIND OUT WHAT YOU'VE GOT. Knowledge management is still in its infancy but most companies start by conducting some form of audit. Astrid Perris of consultants Smythe Dorward Lambert, says: 'You should log all of your current knowledge management activities - anything that is about creating, capturing or sharing knowledge - and assess the contribution of each to achieving your desired business outcome.' Another approach is knowledge mapping, in which you identify where knowledge is in the organisation and where it is needed.