Energize SMB

Small and medium bussiness (SMB) is like a baby. When the baby becomes smarter and gets empowered to address the following challenges, the baby can grow to great heights.

Key Challenges

• Low management bandwidth compared to large enterprises
• Poor visibility on organizational competency, organizational knowledge and utilization
• Inadequate talent pool, high attrition and lack of alignment of talent to tasks on hand
• Competency gap could be more compared to large enterprises
• Time consuming search for information & high cost learning
• Disintegrated systems affect profitability and growth

Following presentation elucidates more on why SMB need to be empowered and how the SMB can be transformed into a smartly managed business:

Building Worldclass Workplace

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“End justifies the means” – Embrace the right way for KM success

This is one of my favourite phrases. I would like to explain this phrase in the context of implementing knowledge management practices & platforms. In most cases, only through the outcomes the value of what we do become visible to others. Consequences help us judge our actions. If the end goal is a real success, we will all believe what we do and what we did (means to reach the end) is perfectly in line with the objectives. If the end is a failure, we all blame the means no matter what we did and how hard we worked for it.

What we do, what we believe and how we do need to be perfectly aligned to the end goal. So, we need to embrace the right way to successfully implement the best practices. In addition to our perceptions and management approach, the Key Performance Indicators (KPIs) can also reflect the fate of the initiatives. KPI has the power to drive towards success or failure. It is up to us to draw the right roadmap and define the right metrics to drive and measure the progress. For example, counting just the number of documents and number of interactions will only add junk entries and useless conversations to the knowledge base. If we start counting the number of visits to the knowledge portal, we will display information that attracts more visitors than displaying information that drive business excellence. If we continue along these lines, we will produce dashboards and reports only to display the rate of increase in knowledge assets, visitors to knowledge portal and knowledge contributions that may or may not have the business relevance.

If we take these reports to top management for further funding and continuous support to drive the initiative, they might ask “So what?”. The number of knowledge assets is not the indicator of business growth or profitability. Business owners and leaders don’t care for number of visits to the knowledge base but they only care for:

• the number of high quality and faster responses per person per month
• the cost of learning versus the talent development
• the percentage of successful & profitable projects leading to good number of satisfied customers and continuous business
• how the learning programs reach the right people and how much faster one can learn

Even in the case of cost centres, the metrics should be based on the actual outcome of the activities and learning but not just based on what they do with the knowledge base. The people at the top will not have time & knowledge to sit with the people at the middle of the pyramid for understanding day-to-day work and discovering the inefficiencies. If the middle management can convince the top just for the POC for one team and show the result, then the top will get convinced on the means to achieve the desired business outcome.

The reason for the number of failures in KM initiatives is the failure in making KM an integral part of the business. In most cases, the KM was made a voluntary service and extra work. That’s why we get responses such as, “I could not find time to share knowledge that is why I could not contribute to the knowledge base. Am busy all the time.”. Then, we start complaining about lack of volunteers and lack of contribution. This will happen only when we do not align the knowledge management system & practices to the day-to-day work.  To make 100% participation, KM should be part of daily work and not an option one can choose for the extra bonus and peanuts.

Set the performance benchmark such a way that they can never achieve this by learning and working in silos. People need to embrace the KM practices unconsciously and we need to recognize people delivering extraordinary performance at work. This is the only way the knowledge flow will become the lifeline of the organization.

When every single eye hospital followed the traditional model without new thinking, the founder of Arvind eye hospital in Madurai redefined the process because he had bigger ambition and set very high productivity numbers. Now they have given vision to millions of people. Even though they charge only nominal fees  and continue to give free service to poor people, they could make some profit. This is the power of redefining the way we work. If there is a will, there is a way. We cannot wait for everyone to change the culture and thinking before we can start implementing the system. Instead we need to implement the system thinking to empower people to self-manage, take control and naturally change them for delivering high value.

When the top management realize that there is no significant improvement in per person productivity and business profitability, they will stop funding the initiatives. Finally, we start blaming the top for not supporting the initiatives.

If you are not successful in your KM, change the means and align your actions towards the desired end goal. To change the way we communicate, we should slowly plan to shutdown the outdated communication technologies. To dramatically bring down the search time, we must change the way we organize knowledge and access them without having to search.

We cannot keep both old and new roads open and expect all the people take the new road suddenly. At some point in time, we need to block the old road (old thinking) that is taking the organization no where. Keep on educating the knowledge workers will only lead to frustrations. If there are multiple options to do the same in different ways, the people should be exposed to those options so that they can decide based on the need. If anyone who gets deeply buried into the old way of doing something without delivering the desired outcome, then it requires special and personal attention.

At some point in time, we need to raise the performance benchmarks and very clearly define the purpose of each and every employee in the organization. If we explain in the right tone on why we have to raise the bar on their performance level and if we empower them with the right tool, then they will start to change. Many a times it is not the culture but the lack of right tool & approach become the roadblock for adoption of new systems and practices. If we expect people to save time on getting the right information on time, we cannot ask them to go through 15 tools to access the fifteen information silos. Even the sensible and energetic person will get frustrated and stop using those disconnected point solutions. Imagine asking Sachin to hit century by giving him ten different types of bats. Even if there are high performers like Sachin, we cannot give them the wrong or too many tools and expect them to perform at their best.

As Steven Covey says, “start with the end in mind”. To successfully reach the end we have in mind, we need to embrace right means and manage them well for a great success. Every way has a destination and it is up to us to decide which destination we need to reach and smartly choose the right way and right approach to get there.

To know more about the KM platforms and practices for various functions and industries, read the other blog posts in this site. You can also visit http://www.lpcube.com to know more about the solutions.

Transforming Banking

Bank that manages the money with greatest level of collective smartness can make more money for them as well as to their customers.  The success of any bank depends only on how well the collective knowledge is created and leveraged. In an interview with The-Week (May 22, 2005) Rana Kapoor, MD of Yes Bank has said, “Banks are not really bringing knowledge to the table. Banks need to look at industries that are building and have built global competitive advantage, create domain knowledge and use that to create superior mind space for customers to get a grater share of the business pie”.

In some countries, there is a complete change in banking due to deregulation that brings more players and more choices to the  customers. Only speed, quality of customer service, differentiation and unique way of making money can bring more customers. Banks must develop competency through unlearning and learning to compete in this new environment. If banks do not address the competency gap for delivering banking excellence, they will be left out.

How to Transform?

As per Kogut (2000), ““Banking management is trying with the utmost capacity to capture, manage and construct suitable information into its organizational knowledge to improve the quality of its operations. Eventually, this will enhance the rules of modern banking institutions in the economy”.

The solution for addressing all these challenges is empowering the bank through right people, process and technology based systems. In this regard, we would like to suggest the following six smart steps to make knowledge an integral part of banking.

1. Organize all the knowledge related to banking processes, guidelines, products, customers, portfolios, opportunities, investment strategy & risks and ultimately make it available to right people in a secured way.

• Provide easy access to banking standards, regulatory and legal details of all countries.
• Information audit trail to keep track of dissemination of changes for getting up-to-date & timely information.
• Manage circulars through smart, fool-proof & knowledge base driven communication model to ensure that all the employees are very well informed on all activities and changes.

2. Interact to harness the collective knowledge related to managing portfolios, mitigating risks, solving issues and ultimately to taking the right decision towards highest ROI possible.

• Establish a connected workplace to link banking employees across branches, offices and countries and drive interaction & collective working through sophisticated platforms.
• Capture, discuss and analyze lessons learned in successful and failed investments to avoid repetition of mistakes.
• Proactively identify and get into new opportunities and manage all the risks through collective experience and wisdom.
• Provide platform to facilitate financial analysis and collaborative business intelligence (BI) to ensure that data is turned into knowledge and knowledge into meaningful business actions.

Personal and emotional decisions and decisions taken with partial knowledge will only make banking risky. Conservative banking is not going to help the bank grow in any way.

3. Think in team to democratize innovation for effectively embracing new trends in banking. Ideas and new thinking can be implemented in day to day work.

• Portfolio management teams can share their ideas to identify new investment opportunities and grow in this highly competitive marketplace.
• Product teams can invent new products and market them perfectly through collective thinking to capture more mind and market share.
• Process team can think towards transforming the process for high efficiency and effectiveness that will give the ability to compete.
• Tellers and customer facing teams can think about better and faster response. Some of them can share their wisdoms on great customer service.
• Banking technology team can think about better tools for improving usability and enriching banking operation.

4. Learn perfectly in line with the personal and organizational objectives to build the high performance banking team through effectively delivering the domain, operational and technical knowledge. Smart banking needs smart team empowered by collective knowledge and best practices.

• Big changes such as adhering to the new banking standards & policies will cost banks so much of money if they continue to drive the learning in a traditional way. To drive growth, it is necessary to drive systematic self-learning through highly secured and personalized information access to digitized document, web links, video and audio library.
• Ensure smartness in banking and drive learning in a cost-effective way across geographical boundaries through perfect Organization-wide learning delivery.
• Provide high visibility into learning activities, skills gap and skills development and certify the people through quick & easy assessment.

Imparting knowledge such as international trade finance, new auditing standards, regulatory changes, trade law etc., lead to high cost. Hence it is necessary to embrace new model for effective learning. Many banks and financial institutions got stuck at traditional training model that can never scale up to the ambitious growth plans of banks. It is time to make that change to ensure that the bank becomes a learning organization.

5. Perform through optimized processes and align the right talent for the tasks on hand to deliver at the collective best. Financial performance will be directly proportional to how we build the right team for managing money and empower them to perform smartly.

• Systematically manage team competency plan, skills inventory, analyze gap and align them to right talent in the pool or drive recruitment.
• All activities need to be scientifically managed to maximize productivity and improve organizational excellence.
• People at the bottom of the pyramid should get visibility into what they need to do and how best it can be done by leveraging the collective organizational knowledge.
• People at the middle of the pyramid should scientifically manage the knowledge assets including people and maximize the outcome without stress.

6. Measure the return on investment and drive the progress of transformation in banking through systematic change management.

• Define the key performance indicators in all banking operations to monitor the progress and gaps.
• Monitor customer satisfaction. The quality of the banking service is directly proportional to the collective smartness.
• Provide great visibility into top management to facilitate decision making and drive right strategy for growth.
• Address the resistance to change through system thinking and perfectly communicate to create awareness among the employees.

Conclusion

As per the case study on The Bank of Tokyo-Mitsubishi, Ltd, “Many banks do not document the processes that lead up to closing a deal with the customer. That means that know-how such as how to interact with the customer, what information to obtain and what proposals to make to successfully conclude the deal has not been formulated into tangible knowledge. Needless to say, this type of knowledge is most useful to our frontline employees. So, for Project OPEN we needed a system that transforms that valuable information into explicit knowledge and shares it across branches and organizations smoothly.”

If BTM can benefit from systematic knowledge-driven approach to manage banking, am sure any bank can become smarter through institutionalizing knowledge. Our mind needs to be sharp when comes to managing money. No matter how much money a bank has, it should focus on systematically embracing knowledge and making more money through smart investments. Otherwise, the customers will go away because there will be more choices in this competitive world.

Solution

You can embrace Lpcube GreatWork – a complete end-to-end workplace transformation solution – to transform your bank. It can change the way the banking employees think, learn and perform. To know more, kindly contact greatwork@lpcube.com.

Driving Business Through Smart Customer Service

During the last 10 years, there was huge growth in consumer market. It also gave birth to too many competitors within and across the categories. Companies must be smart enough to support their customers. There are many platforms available such as twitter, facebook and wordpress to express both the positive and negative experiences. Before I placed the order for my car, I did go through tweets and blogs and asked the people I know about the product & service issues.

Let me share some of my uncomfortable experiences as consumer. Once I took my device to the service centre. For a simple problem, the support person asked me to remove all the data from my device so that they can completely reinstall everything from scratch. I asked them why you need to make it too complicated for such a simple issue. That person kept saying the same thing repeatedly like a broken audio record. This dumb interaction depicted a bad image in my mind about the company. I got frustrated and came back home without leaving my device there.

After coming back home, I started browsing the web and found the solution for it. Within 10 minutes, I installed that patch and made the problem disappear. This is the power of the support knowledge base that looks much smarter than the support person. I only wondered how come they did not get access to such knowledge base. For such a simple problem, why should I leave my device there and end up spending a day or two to install the additional software that I have installed in that device.

Recently I took my digital camera to the service centre for replacing the broken lens. They told me that it will cost about 200 dollars to fix it without even knowing that the brand new camera with better feature is less than 200 dollars. Are they really dumb or don’t know how to just replace the lens? Where is the repairing model heading to? What kind of customer service model we are heading to? If this component replacement model that are as expensive as the brand new device is going to be the way of customer support, then why would customers visit the service centres?

Many a times, I have seen that the support persons are not smart enough to understand the issues and suggest solution quickly. You call it attrition or lack of experience. As a customer, we don’t want to see and understand those reasons. We just need solution to our issues at the fastest time and optimum price possible.

Once I reported about a problem with my network. You will not believe I explained same problem to 10 different people 10 times and finally our problem is not solved. Then we switched to a different service provider. Since then we are with them. Any organization that is not capable of collectively responding to customers to maintain highest level of quality and speed will be no more in this competitive landscape.

All our inefficiency in solving problems and responding to customers are added to the service cost (or AMC). Any organization that is capable of eliminating all the inefficiencies will be able to serve the customers at the lowest support cost. Then, you know where the customers will go to for giving more business.

Summary of Challenges

• Reinvention and repetition of costly mistakes drains organizational energy
• Slow response to customer issues due to lack of reusability
• Poor memory related to past interactions with customers
• Difficulties in finding the right solution at the right time
• Inefficient access to the collective knowledge base due to disorganized knowledge
• Lack of coordination among the team members due to the absence of systematic collaboration

Solution

An integrated and comprehensive model for linking support process, collaboration, learning and quality management helps optimize the support process and leverage quality talents for faster and effective response to customers. Entire support team needs to be trained through scalable learning model to dramatically bring down the cost of learning while enhancing the competency level.

Ensuring that the support model is highly scalable, optimum and consistent across the organization is critical for success in today’s business environment. Support team must be able to leverage their true potential and collective experience to respond to the customer needs on time. Ultimately, it helps minimize the cost and maximize both productivity and quality of support.

Key Functions

• Support Knowledge Bank to manage the complete learning (self, collaborative, organizational)
• Ask the Expert to spot the right talent, interact with experts, gain knowledge and find the solutions
• Option to align right experts to the issues and tools for monitoring the responsiveness
• Self-service support system for the customers to report and find solution without interacting with the support team
• Virtual support team across the globe empowered by the common system and knowledge base
• Support Team & Scheduling to align right talent to the issues for timely completion
• Smart Communication system that replaces email and provide right mechanism to interact with customers, partners and team members
• Smart Solution Delivery through collective working and common knowledge base
• Support Dashboard & Scorecard to monitor the personal & team progress and gaps if any
• Quick report for the top management to see the health of the support function and to quick insight into customer satisfaction
• Quality management systems to define, communicate, monitor and refine the processes & solutions
• Partner connect to bring partners into the support network and help them deliver quality support to the customers
• Align individual performance gap to one-to-one learning to ensure that the mistakes will not be repeated
• Monitor personal productivity and team deliverables in line with the demand to systematically plan for team expansion and reallocation through multi-skilling
• Reporting on the SLA to help the team monitor their performance in line with the SLA commitments
• Collective ownership through knowledge sharing and access to all the insights on and interactions with a particular customer to avoid finger pointing

The Next Phase of Outsourcing

Many companies outsourced their support function to dramatically bring down cost through salary arbitrage. As the salary gap has come down and competition for outsourcing has increased, there is a huge pressure to deliver great support with further reduction in the support cost and time.

Considering the fact that the salaries are increasing, it is impossible to bring down the cost without focusing on the platform for empowering the support team to deliver the smartest way possible.

Driving Business Growth

Customer satisfaction is the biggest driver of growth in business. If your customers are happy, they will be your sales people. If your customers share their positive experience with people around them, they can win you more deals than your dedicated sales team. Ensure that your support model is smart and efficient to make your customers extremely happy. Embrace system thinking to become smart.

To know more about the key functionalities, check out http://www.lpcube.com/wise/support. To learn more about implementing and embracing the support knowledge management system contact us at greatwork@lpcube.com.

Role of Knowledge Lifecycle in Manufacturing

Henry Ford transformed manufacturing through process innovation in automobile industry. May be a random thought, intuition and highly conscious experience of few people for a very long time might have driven him and his team to think about the productivity improvement and make that big change. But the real need in today’s growing business environment is scalability.

The Report

Note: Economist Intelligence Unit Surveyed 315 companies in the manufacturing industry

Key Findings

• Companies find it difficult to capture and make use of knowledge from external partners
• Lack of communication and a hoarding of knowledge continue to hamper internal communications
• Many companies do not know the extent of their IP but are gradually starting to look to external partners as potential sources
• An important goal of knowledge management is seen to be the sharing of best practice
• Companies must think carefully about the communication channels that best serve their objectives

Technology remains an important tool in knowledge management. And technology can also enhance the comfort zone for companies that want to share knowledge with suppliers and partners. Gartner, the business analyst, sees the emergence of “communities of trust”, which it describes as a combination of social conventions and technical standards necessary to support expansive collaboration.

Solution

The only option to do this is to institutionalize knowledge across the factory that will address the entire knowledge lifecycle including content, collaboration, communication, competency, collective working, change management and so on.

Institutionalizing Knowledge

This will ensure that big and continuous improvements can take place at regular intervals. Thousands and millions of people working in a factory setup require a systematic approach to collectively drive learning, innovation and smart execution across the organization instead of making it an adhoc activity.

Collective Knowledge

It is vital to leverage the collective intelligence for continuously optimizing performance, minimizing defects, proactively avoiding big problems and change the way the workforce connect, learn and work in factories.

The following step by step approach to manage knowledge can help build a high performance and smart workforce.

Knowledge Lifecycle

1. Content Lifecycle to bring all the relevant & up-to-date information such as policies, operational manual, factory design, product design, machinery guide book, training video, audio, images and so on at the fingertips of the workforce in a highly secured way. From planning to creation and continuous validation & archival is addressed.
2. Team & Collaboration Lifecycle to build high performance team, drive interaction both traditional and new technological approaches and harness the true ability of the workforce. Workers across the factory sites can share the common lessons learned and exchange information on how to address a particular issue. The new communication platform is vital to ensure perfect dissemination of information.
3. Enterprise Innovation Lifecycle to create the structure and right platforms to drive the flow of ideas at all levels and across the organization for continuous improvement. Even the factory workers will have the choice of sharing their thinking on preventing issues, optimizing work and so on.
4. Talent & Learning Lifecycle to systematically drive personalized learning to right people at right time using multiple models & simple technologies depending on the learning style and category of workers for achieving complete workforce transformation. Competency of the people from welders, fitters, supervisors to design team can be managed & monitored scientifically. It will help find right person & build the best possible team for the tasks on hand.
5. Process & Task Lifecycle to scientifically manage activities, link to right knowledge, align right talent from workers at the factory floor all the way to the research team and help complete the task on time. The inefficiency patterns in the workplace can be identified and addressed.
6. Performance & Change Lifecycle to monitor the progress of change using personal, team and enterprise scorecards. Helps implement certain new approaches and drive change with lot more clarity. It will help in the performance review and promotion for each and every employee in the factory.

This will give you the broader picture on the possibilities of institutionalizing knowledge in the factory environment.

Regularly follow this blog. We will keep on adding more manufacturing specific details for each of these six steps so that you can drill down in each of the above links to know more. Feel free to comment and ask specific question. We will try our best to answer.

To discuss about your specific needs in your factory environment, contact our experts at greatwork@lpcube.com.

Game Changer in BPO

Outsourcing business is all about efficiency, leveraging great talent pool and differentiating with respect to customer satisfaction, speed, innovation and managed growth. If companies can do this consistently, there is growth and no one can stop job migrations to other companies or countries. Am sure you already know how DELL changed the game in the PC industry.  It takes only one company to redefine responsiveness and pricing. Then, the cost conscious customers will come back for renegotiation or transition to your competitor. You may be doing great so far but keep improve your performance to sustain.

The Challenges 

• More and more countries get into outsourcing business there by increases external competition in addition to tuff competitions inside.
• Salary arbitrage is no more a competitive edge. Human beings are all over the place. They watch, learn faster and get ready to compete. You know what happened to manufacturing.
• Increasing operational cost, very high salary expectations, difficulties in finding quality human resources within the country and high attrition rate affect the overall business profitability.
• Ineffectively managed interactions between the BPO organization and the customer affect quality. Continuously changing information put pressure on the employees to constantly unlearn & learn for flawless operation.
• 50% of quality related issues are due to lack of easy access to common information and working on outdated information.

Overall, these challenges make life difficult to maintain profitability and sustain growth. So the BPO companies should get ready for the next round.

Changing the Game

1. Quick response over phone or any other media will keep your customers smile and come back to you for more business. Organize knowledge to deliver right knowledge at the fingertips of agents so that the time they spend on customer interaction can be dramatically reduced. This will give you the confidence to move to output based pricing and make more money through dramatic increase in per employee revenue.
2. Maintain process knowledge, manage changes, deliver, track and ensure it reaches people on time so that they will never operate on wrong information. At the same time highest level of security is essential to encrypt, store and deliver confidential information. Audit trail is vital to keep track of the entire flow of information and get insight into who sent, what, when and who accessed, when and how many times.
3. Team huddles and email are very inefficient for disseminating information. Centralized knowledge base driven communication platform is needed to effectively manage internal communication. It helps teams across multiple shifts get consistent view and timely access on organizational knowledge.
4. Align right talent to the task and provide the knowledge on how to perform better. There are many first-time managers with less than four years of experience and hence it is critical to empower them with scientific and systematic management approaches to manage talent, activities and monitor the progress.
5. To reduce the cost and increase the speed of response, a common support knowledge base must be provided to people across locations. Expanding to Tier-1 and Tier-2 cities cannot be stopped and hence it is important to have an intelligently connected workplace. 
6. Looking at the growth of companies, it is impossible to deliver learning through traditional training model. Innovative and scalable learning platform can facilitate competency management through personalized and continuous learning. Maintain a library of good and bad customer responses to train the employees. Sometimes, people make mistakes unconsciously.

Solution:

1. Lpcube Knowledge Management for bringing enterprise knowledge at the fingertips.
2. Lpcube Next Generation HR solution for transforming the workforce
3. Lpcube Wise Support for intelligent customer support

Need Help?

To assess the BPO workforce performance quotient and to gain insight into how to make your organization wiser, please contact us at greatwork@lpcube.com.

Smart Selling Systems

During early 90s, Tom Siebel gave birth to CRM to scale up quality selling. Now it is time for taking sales organization to the next orbit.

Why enrich selling?

I walked into a shop to buy a product. One of their existing customers came in to report an issue with the PDA. When I realized the sales person was not responsive to their customer, I walked away. In another experience, a pushy sales person knew nothing but the price tag. Again, I walked away and purchased from a serious and knowledgeable sales person.

Once I asked the sales person about the difference in the two LCD TVs. He said that one is 30 inch and the other is 40 inch. I asked if there are any differences that I cannot see. I am surprised that the sales person could not explain. Do they expect us to do all the product research and go to them only to place the order? How long does it take for them to learn everything about that one item that they see day in day out? Are companies completely ignorant about this?

In the case of enterprise solution, I have heard about the presales team going through hundreds of slides trying to communicate to the prospects without knowing what their real pains are. I have heard about cases where the customers are very angry when they had to repeatedly explain their needs to different people from the same organization during the sales cycle.

How to drive smart selling?

After seeing great sales people and some not so good ones, I feel that sales organization should ensure that the team is well informed, monitored and mentored through a systematic approach.

While CRM addresses the sales operation including lead management, KM can empower the sales organization through common customer knowledge and WT can change the way the sales team learn & work.

Solution Details

• Build customer knowledge base, capture lessons learned and organize them for perfect information delivery to sales team including partner community.
• Build marketing communication platform to effectively disseminate information & changes and monitor.
• Capture the RFP, discuss and quickly create a proposal including solution roadmap & estimates to maintain accuracy and consistency.
• Establish platforms to drive collaboration among presales, sales, partners & product teams and to facilitate real-time expert interaction for discussing the leads.
• Deliver knowledge through a scalable approach, assess the skills & gap, manage learning and measure the self-sufficiency of the sales team.
• Integrate CRM system with the KM system to exchange information between these two systems.

If you need such solution, please contact greatwork@lpcube.com.

The KM Dilemma

Introduction

We say that knowledge resides only in people but in reality the artefacts is always at the center stage of knowledge management (KM). We count the number of artefacts (explicit knowledge) created and frequently used to measure the success of KM. Tacit, implicit, explicit and embedded knowledge are important but we cannot give too much importance only for the explicit knowledge. Sometimes, we completely ignore the explicit knowledge that is necessary for scalable communication and learning.

The School of Thoughts on KM

A decade ago, there were only two schools of thoughts. One is technology driven and other one people-driven. People cannot replace technology and vice versa. It is essential to understand the role of these two and align them towards KM success.

The Objective of KM

KM is all about harnessing and institutionalizing the collective intelligence towards delivering organizational excellence. It is about improving quality, innovation and productivity by effectively leveraging the knowledge resources and put to work through best possible approaches.

The Current State of KM

Not sure how many schools of thoughts are there now. Some focus on the collaboration part of KM. They measure the value of KM by counting the number of discussions initiated, number of responses and so on. While this is important, we need to bring in the other vital components of KM such as systematic innovation, learning and execution.

Even after a decade of hard work in the KM space, the four blind people and the elephant story is still applicable. We get trapped in our own thinking instead looking at the value in what others think.

Food for Thoughts

Can we really manage knowledge without addressing learning? Only through the process of learning we bring knowledge in. Can we just equate reading and viewing content library to learning? Self learning from the content is good but it would be just a part of our complete learning.

Can there be perfect learning without personal talent management? How do we decide what to learn and when? Only the talent management provides visibility into what we know and don’t know. Can we measure the value of knowledge without measuring the business outcomes? Can improve business without aligning right talent and right knowledge to the activities and without scientifically managing?

The Bigger Picture of KM

Am sure you are able to look at the bigger picture of KM. Unfortunately or fortunately there is no body of knowledge for KM. While, it gives freedom for many to bring new thinking, it confuses the beneficiaries of KM. To get to know about the holistic picture, you should open up your mind and listen to see all the possibilities.

The Pillars of KM

People, process and platform are the pillars of KM. If we undervalue anyone of them, KM will definitely lead to failure. Instead of triggering a debate on which is the best, we should combine these complimentary things for maximum benefits.

Conclusion

It is time we connect the dots and put an end to the dilemma by completely understanding what it is and what it can do. KM is pretty much about creating a learning environment and making the workplace for smart, effective and efficient work.

The complete KM is the one that can address the following:

• Access to right enterprise knowledge
• Collective knowledge creation
• Convergence of collective thinking
• Accelerated and complete knowledge acquisition
• Smart and systematic application of collective knowledge
• Scientific management of intellectual capital
• Smart people management
• Knowledge deployment and measurable actions
• Visibility on progress, gap and issues

Still Confused?

Focus on the problems and see how the XYZ solution will address them. If Wiki can solve your business problem, please go for it. If Web 2.0 is the answer, please embrace it. But don’t expect wonders by just downloading the basic tools. Your decision making process should be sensible and it is completely based on your own needs. Communicate your expectations very clearly.

In the name of strategic marketing, vendors might use some terminologies for their solution! What matters to you is the real solution. As someone told me, you call it donkey or monkey. Business entities should focus on how the problem is addressed but not how it is named. Let vendors use their creativity to name their solutions and you can use your capability to take the right decision.

Need Help?

If you need help on understanding KM and choosing the right way to institutionalize knowledge in your organization, contact us at greatwork@lpcube.com.

Personal KM System

Personal Knowledge Management System (Personal KM) is a smart and systematic approach for empowering individuals to deliver excellence in line with the personal and organizational goals. It helps enrich our mind and discover our true potential.

Why Personal Excellence?

Ability to deliver excellence through smart learning & working is very much important to come out of the rat race in the workplace. Smartness will help us do more with less effort and without any stress.

Individuals must take responsibility for developing cognitive ability, nurturing necessary talent, cultivating right attitude or culture and personal branding to compete in this highly competitive market place. Our confidence level increases when we discover our own potential and gain visibility into what and how we can perform.

Challenges Faced by Individuals

• Increasing workplace stress combined with lack of smartness restricts our growth
• Lack of simplified approach to align interest, learning and competency to the role
• Rigidity to change results in inability to manage the expectations and increasing competitions
• Low visibility to task, expertise, knowledge around us, learning plan and learning activities

Solution

Organizing personal knowledge and harnessing collective knowledge towards comfortably achieving the desired goal.

What is Personal Knowledge?

• Our behaviour within the organizational context and career path
• Our skills and awareness on skills gap in line with the personal goal and career plan
• Experts we know, how to connect to them and interact with them
• Learning sources, personal learning plan and best practice for learning
• Knowledge assets created by us and how people value the quality of the content
• Our activities, performance and progress in line with others expectations

Harnessing Collective Knowledge

Ability to identify and leverage others’ potential using social networking model in line with our personal objectives can make us more valuable. To achieve, we must align our ambition, awareness, ability and articulation skill towards measurable actions. Through constant interaction and helping attitude, we can build relationship with experts to learn from each other.

How Personal KM helps Deliver Excellence?

Personal KM that includes highly integrated personal knowledge organizer, personal learning management, personal competency lifecycle, learning network and activity planner helps:

• Know what we don’t know, what we need to know, how to learn and where to learn through systematic self-assessment or certification.
• Focus on personal capability and intellectual capital by embracing personal knowledge & learning strategy.
• Unlock the true potential and maximize personal effectiveness through innovative approaches for planning, learning and execution.
• Become smarter, more knowledgeable and valuable by improving the self-awareness, self-confidence, self-sufficiency, employability and marketability.
• Network with right people, leverage, expand and empower the mind to work at the optimum level of performance in all their pursuit.
• Drive accelerated learning through personal learning navigator to find the right learning resources to learn the right thing at the right time.

Why Personal Knowledge System and Strategy?

Without system thinking it is hard to embrace these best practices. Personal KM system combines the value of time management, information management and knowledge management. Traditional organizers and planners focus primarily on time management and personal information.

Who Needs Personal KM System?

This comprehensive approach is more valuable within the individual, institutional and organizational context. Career awareness and market visibility of students are extremely low. This approach will bring end to end knowledge to make them understand, position for right opportunity, learn and perform the job at their best.

How Individuals Can Embrace Personal KM?

Lpcube is planning to launch a comprehensive platform called Smipio (http://www.smipio.com/) that can be used by individuals (students in higher education and employees).

Why Personal KM in Organizations?

Personal KM helps organizations align the right resources and talent to the tasks on hand. Within the organization, individuals must have a personal goal, career plan, visibility, personalized learning and personal performance review.

• Organizations must have a Personal KM strategy to ensure that they get the maximum out of each employee.
• Employees must focus on personal competency management, building personal knowledge library and drive learning through personal learning planner.
• Through personal scorecard and performance indicators individuals can know what is progressing and what is not.
• Like the growth strategy of an organization, employees must have a growth strategy aligned to personal and business objectives to succeed and shine.

Organizations can embrace Personal KM strategy and ultimately align to Enterprise KM initiatives.

To learn more or to get help on implementing Personal KM System, contact greatwork@lpcube.com.

Smartly Managing a Project

Smartness in managing project is very essential to differentiate and compete in this world without boundaries. Talents can be imported and projects can be outsourced across the globe. Organizations and nations with great project management capability can dramatically reduce cost and create wealth in all industries. Hence it is important to develop talent and embrace right platform and practices to deliver excellence in all projects.

To compete easily and for a stress-free work environment, the following challenges affecting project quality, cost and time-frame must be addressed:

Challenges  

1. As per the research reports, more than 78% of the IT project fails due to lack of visibility and mis-management.
2. Inability to meet the time commitments and slow response to customer needs due to lack of scientific approach in managing intellectual capital.
3. Budget overshoots due to poor estimation of time & cost and lack of clarity on the scope results in customer dissatisfaction.
4. Lack of coordination across project teams and poor visibility into the collective knowledge lead to duplication of work and repetition of costly mistakes.
5. Adhoc interaction among project team and between the team members and customers combined with high attrition lead to missing commitments and not meeting the expectations

Solution
 
Project is the most comprehensive form of knowledge representation and knowledge activities. Good project knowledge management platform with the following functionalities are vital to ensure consistency and great level of success in all projects.
 
Project Knowledge Bank

• Managing project life-cycle  and all the knowledge associated with each stage to keep all the team members in the same page
• Capturing and organizing project knowledge in each and every stage of the project to share and harness the common knowledge
• Navigating the collective knowledge and finding right knowledge based on project team roles and responsibilities
• Managing lessons learned and the collective wisdoms of the team in each project 
• Managing the customer requirements and expectations and communicating the same to right people

Project Team

• Managing project teams based on skills and planning based on the complexity level and knowledge requirement
• Analyzing and identifying individual vs team skills gap help the team members identify their weak areas and address them through personalized learning plan
• Planning skills inventory based on the roles, knowledge areas and competency need and aligning the gap to a recruitment plan
• Managing the performance review of the project team based on customer satisfaction, talent development and profitability
• Communicating with the team using the knowledge base driven messaging instead of outdated technologies such as email

Smart Task

• Defining the task for each project and estimating based on the collective experience, historical performance and future possibilities
• Aligning the enterprise knowledge base to each task to help people perform the tasks the right way without delay and without failures
• Identifying the task owners based on the expertise, assigning necessary resources and scheduling team activities based on the priorities
• Integrating with calendar system to manage and monitor the individual and team activity and availability
• Relating project tasks to similar tasks and the solutions to help the team  easily relate and execute at the fastest time possible
• Connecting to collaboration platforms for collectively managing the project status and discussing online to identify the right solution for all the issues without any delay

Project Dashboard

• Reporting on the project progress and gap to help middle and top management for doing quick health check and taking right decision at the right time
• Getting visibility into personal competency, utilization and project status through summary and drill-down reports and charts
• Planning for meetings using traditional and online approaches, discussing, managing and monitoring the action items & minutes of the meetings easily
• Reporting on the individual and team contribution, usage and progress based on key performance indicators

Embacing knowledge management in project management is the smart thing to do to meet the increasing expectations of the customers without pain. Do not pass on the stress to your workforce but empower them to perform at their best and consistently exceed expectations.

To gain more insights into the role of knowledge management and workplace transformation for smart project management, check out http://www.lpcube.com/wise/project.