Knowledge management strategies that create value

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48Outlook 1999, Number 1There is no one-size-fits-all way to effectively tap a firm s intellectualcapital. To create value , companies must focus on how Knowledge is used to build critical that had invested millionsof dollars in a state-of-the-artintranet intended to improveknowledge sharing got some badnews: Employees were using it mostoften to retrieve the daily menu fromthe company cafeteria. The systemwas barely used in day-to-day busi-ness executives would argue with thepremise that Knowledge management iscritical but few know precisely whatto do about it. There are numerousexamples of Knowledge -managementprograms intended to improve innova-tion, responsiveness and adaptabilitythat fall short of at the Accenture Institutefor Strategic Change have been explor-ing the roots of the problem and havedeveloped a method to help executivesmake effective Knowledge managementa reality in their of the problem with knowledgemanagement today lies in the way thesubject has been approached by ven- Knowledge management strategies that create valueBy Leigh P.

Outlook 1999, Number 1 51 mance across functions. Or they might use softer measures that focus on the use of cross-functional teams, shared goals and feedback systems.

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