Question

Pros and cons of various knowledge management tools and techniques used in an organisation

Answer 1

Advantages of knowledge management

Some of the common benefits of knowledge management include:

improved organisational agility

better and faster decision making

quicker problem-solving

increased rate of innovation

supported employee growth and development

sharing of specialist expertise

better communication

improved business processes

A good knowledge management system will make it easy to find and reuse relevant information and resources across your business. This, in turn, can help you to:

create better products and services

develop better strategies

improve profitability

reuse existing skills and expertise

increase operational efficiency and staff productivity

recognise market trends early and gain an advantage over your rivals

benchmark against your competitors

make the most of your collective intellectual capital

Resourceful collaboration will bring more views, diverse opinions and varied experiences to the process of decision-making, helping your business to make decisions based on collective knowledge and expertise.

Disadvantages of knowledge management

The key to any successful knowledge management system is knowing its limitations. Some of the common challenges include:

finding ways to efficiently capture and record business knowledge

making information and resources easier to find

motivating people to share, reuse and apply knowledge consistently

aligning knowledge management with the overall goals and business strategy

choosing and implementing knowledge management technology

integrating knowledge management into existing processes and information systems

To overcome these challenges, you should:

develop clear processes to capture, record and share business knowledge

define the scope and objectives of any knowledge management initiatives

create a corporate culture of knowledge sharing between employees and management

set clear goals and strategies to help you utilise the collective knowledge (otherwise, it will be of no use to your business)

consider budget, strategy and training needs for any new knowledge management system

consider change management strategies for introducing new knowledge management practices

Answer 2

Answer:

Pros and cons of various knowledge management tools and techniques used in an organization.

Explanation:

• Different tools used for management in any organization are same for all the organization and are very basic.
• Any organization first handed need a strategic planning.
• Next is CRM, Customer segmentation, Benchmarking, Mission and Vision, Sort analysis, Charts, Invertors, Stakeholders and many more such as.
• There are few advantages and disadvantages of this management tools and techniques-
• The greatest disadvantage is that sometimes it leads to overlap of the authority.
• And using project management and tools helps in planning good scheduled, it helps to find better collaborator, It makes task easier, it decrease the risk, it is easy for new members.
• But it is high in cost, it need high level of expertise.

Hence, this are the pros and cons of management tools and techniques.