Key Elements of Knowledge Management Strategy at Katzenbach Partners LLC
Discover the key elements of the knowledge management strategy implemented at Katzenbach Partners LLC, focusing on developing intellectual capital, improving leverage, increasing innovation, and empowering associates. Explore the critical challenges faced, such as organizational and technical issues, and learn about the integration of Knowledge Management with Web 2.0 technologies. Find out the challenges addressed and the technology and business solutions implemented to enhance knowledge sharing and collaboration within the firm.
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Presentation Transcript
KNOWLEDGE MANAGEMENT AT KATZENBACH PARTNERS LLC Presentation by THE REAL EMBA STUDENTS OF NEW JERSEY:Cummings & Pickering
KATZENBACH: KEY ELEMENTS OF THE KNOWLEDGE MANAGEMENT STRATEGY Develop new intellectual capital, a key driver of growth Improve leverage by enabling junior associates to draw from previous work Allow senior associates to spend less time on basic instruction and more time on leadership Increase innovation rate by combining ideas developed on multiple clients Incorporate knowledge management into daily activities Empower associates to bring the best of the firm s capabilities
KATZENBACH: CRITICAL CHALLENGES Researchers estimate the failure rate of Knowledge Management systems at 50 70%. Organizational Challenges Technical Challenges Historical KM relied on peer-to-peer exchanges and chance encounters No commercially available system that would meet company s needs Inconsistent usage of current shared folder system Highly individual approach to KM There was no model to work from in designing the HUB+ HUB+ was designed with few rules and limitations which could lead to user confusion over too many options Need for some documents to be kept confidential Ensure that KM would be embraced as a critical responsibility, not a burdensome process Consultants had limited access to network from outside
KATZENBACH: KNOWLEDGE MANAGEMENT & WEB 2.0 Web 2.0 Tagging to better share information across the firm Allow users to interact and collaborate with each other in a social media dialogue as creators of user- generated content in a virtual community Connected members with similar interests Allowed users to create their own structures Fostered intellectual capital development and collaboration Easily access and manage resources in a dynamic fashion
KATZENBACH: CHALLENGES, TECHNOLOGY AND BUSINESS SOLUTIONS CHALLENGE ACCEPTED: Firm members needed to use the system in a way that supported the firm s KM strategy in order for it to be successful Technology Solutions Business Solutions Consultant perspective incorporated into system design Full time Knowledge Manager position added to humanize the process Hybrid model of formal and informal taxonomy created greater flexibility in system Added new project close-out process to formalize the capture the key project learnings Intuitive user interface for ease of use Junior team members assigned project historian role to formalize accountability for KM Helpful recommendations feature provides additional value to user Roll-out plan centered around fun and positive activities to promote use of system Personal repository individualizes system Use of positive reinforcement in review process to recognize good users of the system
KATZENBACH: CASE LEARNINGS This case underscored the following learnings: The difference between data, information and knowledge Technology can be designed to meet complex organizational needs Even the most innovative technology is only successful if it is employed
