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Brandwave-logo-6.png |The Knowledge Edge | july’ 18
18.07.2018
According to a Global Deloitte survey, over 80% of Deloitte Knowledge users indicate that sharing knowledge leads to competitive advantage and adds a real client value.
What are the advantages of adopting a knowledge management strategy?

Knowledge management prevents staff from constantly reinventing the wheel, provides a baseline for progress measurement, reduces the burden on expert attrition, makes visual thinking tangible, and manages effectively large volumes of information to help employees serve their clients better and faster.

 

Being a fundamental business enabler, knowledge management will help organisations:

  • Protect their intellectual capital
  • Focus on their most important assets: their human capital
  • Re-orient their culture by opting for an optimal knowledge sharing strategy
  • Link people to people by setting up collaborative methods
 

Knowledge management opens the doors to a new era of collaboration and sharing
Nowadays, with corporate mergers, employee turnover and global expansion, people must work differently: they need to collaborate with peers that are overseas, exchange ideas, keep current on global matters and have quick answers to their questions.

The power of Social Media plays an important role in knowledge management as it enables employees to collaborate, connect and rapidly access to experts and information.

Social networks also allow people to collaborate, to be human and to express themselves in the electronic environment. They have a solid foundation of trust and popularity among employees and they are part of the knowledge sharing culture.

Increasing company benefits with an effective knowledge management strategy

Knowledge management helps solve most of the common business problems and helps companies increase their benefits by:

  • Improving business decisions thanks to facilitated access to expertise and to leading practices

  • Increasing efficiency, productivity and work smarter by reducing cases of “reinventing the wheel”

  • Improving innovation through wider and borderless collaboration

  • Reducing loss of know-how by capturing explicit and tacit knowledge

  • Speeding productivity with on-board trainings and timely access to knowledge

  • Increasing client satisfaction by delivering value insights

  • Enhancing quality and ability to collaborate by standardising ways of working and enabling discussions with leading experts

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18.07.2018
The best leaders understand that the current success of their business, and any future innovation, depends upon the “deep smarts” of their employees — the business-critical, experience-based knowledge that employees carry with them. Leaders with a passion for developing employees’ skills, and those who understand the need to transfer knowledge among generations of workers, know how important it is to link in-house education to strategic planning.

Take architectural and engineering firm EYP as an example. Leila Kamal, vice president for design and expertise, not only reports to the CEO but also is a member of the board. An architect herself, she brings great credibility and visibility to programs of learning and knowledge exchange. An early in-house program called A16 treated 16 junior architects to 16 weeks of intensive training, including knowledge mentorship from highly experienced architects. The educational concepts developed in that program have since evolved into a larger learning program called EYP University, which provides an average of 20 courses a year for architects, engineers, and a combination of the two. Instructors combine traditional lectures with hands-on activities, including challenging participants to solve a difficult problem before they are presented with the solution. This mode of learning embodies what educational researcher Robert Bjork call “desirable difficulty,” compelling learners to fully engage mentally to discover nonobvious answers to problems. Senior thought leaders who are mentors at EYP have to submit a learning plan for their mentees, describing not only goals but also specific tasks the learner will undertake, such as a client presentation. The learners, in turn, provide performance evaluations on their mentors’ skills as a mentor or on their ability to teach and share knowledge through the EYP U curriculum. Moreover, the mentoring flows “up and down” — from juniors to seniors, as well as vice versa. For example, new hires tend to come in knowing building information modeling from school, and can tutor experienced designers and architects in how to incorporate their deep practical knowledge into the software.

Despite its relatively small size (about 600 employees), EYP also supports in-house research projects proposed by employees, which are selected through a competitive process. These knowledge-generation projects, always aimed at solving a challenge faced by clients, are intended to help differentiate EYP from competitors. For example, one such project focuses on the interaction between a building’s functionality and the well-being and productiveness of its occupants. Another aims to create flexible environments that can be adjusted in response to information gathered by sensors placed around the building that record how people are using a given space. For example, temperature and lighting in a room could lower or raise depending on how many people are present and whether they are viewing a presentation or reading.

Contrast the example above with an organization where one manager noted: “I think we are very good at managing information, but not very good at managing knowledge.” It’s an astute observation. Knowledge differs from information in that the former is at least partially based on experience. Organizations that are proactive about managing the flow of knowledge focus on several potentially essential ingredients to future success, such as:

Retaining experience-based know-how, including not only technical knowledge but also so-called “softer” skills, such as project management and maintaining critical relationships inside and outside the organization that have been built up over years. For example, many top sales people know clients personally; subject matter experts know others in their field. Such trusted relationships facilitate communications and speed decision making.
Helping mentors pass along their expertise more effectively and helping mentees learn more efficiently. Mentors can teach through practical problem sets and hands-on diagnoses instead of lectures and presentations. Newcomers can learn more efficiently by keeping “learning logs” that chronicle their experiences and through scheduled feedback sessions with their mentors.
Encouraging reverse mentoring from newcomers to elders, such as having newcomers tutor experienced personnel in social media.
Generating new knowledge by conducting research, benchmarking, or bringing in “resident” artists or scientists whose interactions with employees can spark creativity.
Nurturing this kind of know-how is essential to maintaining the firm’s core capabilities, those unique innovations — whether in marketing, operations, finance, technology, or other areas — that are not easily replicated by competitors. At multiple levels in the organization, key personnel are responsible for such capabilities and hold much of the know-how in their heads. That’s why managing knowledge can be even more challenging than managing information.

The single largest obstacle to managing human knowledge is a lack of time. The more essential the know-how held in the head of an expert or highly experienced manager, the less time he or she has to pass it along to potential successors. Such valuable individuals are pulled into every important client meeting, problem-solving session, and innovation project. The only way that their deep smarts will be retained is if leaders recognize and address that limitation. Specifically, leaders need to:

Tie preservation of critical know-how to corporate strategy
Behave as if developing and retaining knowledge is truly important. Leaders who take time to teach in education programs, or at least start them off, provide visible evidence of seriousness.
Support incentives within the organization that both recognize current expertise and encourage it to be shared
If leaders do not show that knowledge development and preservation is a priority, then they cannot expect that managers lower in the organization will provide the necessary incentives, time, and resources to share, and thus preserve, knowledge across generations, geographies, and corporate silos.

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18.07.2018
The luxury watch brand Rolex is the most reputable company in the world, according to the Reputation Institute's annual rankings
The Reputation Institute sorts companies according to the public's perception of their performance in seven areas: products and services, innovation, workplace, governance, citizenship, leadership, and performance.
The chocolate maker The Hershey Company is the most reputable brand in the US, but the brand is much less well known internationally, so it did not make it onto the list. Facebook did not even make it into the top 100. 

After the emissions scandal that engulfed the company last year, Volkswagen dropped from being the 14th most reputable company in the world in 2015 to the 123rd spot this year. 

To compile the rankings, the Reputation Institute collected more than 240,000 ratings from 15 countries.


 

10. Apple. RepTrack Points: 76.6.

A screenshot from the 2004 remake of Apple's iconic 1984 ad.
 Apple
Apple's reputation is getting worse, according to the study. The company has dropped from seventh place in 2014's rankings to eighth in 2015's, and it now sits at 10th. The tech company, however, came out on top in both the innovation and the leadership categories. 

Here's everything Apple announced at its Keynote on Monday, including its new, cheaper-than-ever iPhone. 

9. Sony. RepTrack points: 76.7.

REUTERS/Alessandro Garofalo
Sony proved to be a truly global brand. The company was among the 10 most reputable brands in 10 of the 15 countries surveyed. On this metric, it was beaten only by Rolex. 

This year Sony faced criticism over its failure to release singer Kesha from a six-album contract with one of its record labels, Dr. Luke's Kemosabe Records. Kesha alleged that her producer at the label, Lukasz Gottwald, sexually abused her. 

Aside from music, the Japanese conglomerate makes electronics and produces movies and video games. The company was founded in 1946 by Masaru Ibuka. 

 

8. Canon. RepTrack points: 76.9.

REUTERS/Toshiyuki Aizawa
Canon is the third most reputable brand in Europe, the Middle East, and Africa. 

The world's biggest maker of cameras and printers has been expanding further this year. It just announced that it would buy Toshiba's medical devices unit for nearly $6 billion. 

7. Microsoft. RepTrack points: 77.0.

Satya Nadella, CEO of Microsoft.
 Robert Galbraith/Reuters
Microsoft has returned to the list after it dropped out in 2015. It came out as the third most reputable brand in Asia. Microsoft is performing particularly well in the detachable tablet market, outperforming Apple. 

Microsoft is predicted to take a 74.6% share of the detachable tablet market by 2020. 

The company's biggest businesses in 2016 include the Windows operating system, the Xbox, and Microsoft Office. 

 

6. Lego Group. RepTrack points: 77.4.

Joe Shlabotnik/Flickr
Lego remains the most reputable brand in Europe, the Middle East, and Africa. 

This year Lego faced a serious backlash after the company refused to sell artist Ai Weiwei a bulk order of its plastic bricks. The Chinese artist had planned on using them to make a political point, which went against the company's rules. The toymaker later reversed this policy. 

According to a report by Brand Finance, Lego is the world's second most powerful brand after Disney. 

5. Daimler (Mercedes-Benz). RepTrack points: 77.7

The Mercedes 300SL Gullwing.
 Mercedes-Benz
Daimler dropped from third place to fifth in the global reputation rankings this year. 

Daimler sold 2.9 million cars in 2015, up 12% from the previous year, it was announced at the company's annual press conference. 

The Daimler-owned Mercedes could soon become the car brand most closely associated with Uber, as the taxi app just announced an order for 100,000 Mercedes S-Class cars, according to Fortune. 

 

4. BMW Group. RepTrack points: 77.9.

REUTERS/Denis Balibouse
BMW dropped from first place in 2015, but it retains its lead on its fellow German carmaker Daimler. 

BMW celebrated its 100th birthday this year. To celebrate, it released the concept car it predicts everyone will be driving in 100 years. 

As well as producing BMWs, the company makes Mini cars and oversees productions of Rolls-Royce vehicles. 

3. Google. RepTrak points: 78.1.

Scott Brownrigg
Google came top in the performance and workplace categories this year, but it slipped from second place — which it had held in 2015 and 2014. 

The search-ad business has had another important year; in October it reshaped its corporate structure to form a new parent company, Alphabet. 

 

2. The Walt Disney Company. RepTrak points: 78.2.

EURODISNEY-SHAREHOLDERS/ REUTERS/Gonzalo Fuentes
The Walt Disney Company came in the top 10 in each of the seven categories. The huge media and entertainment company came first in the citizenship and governance categories, making it unlucky to miss out on the top spot. 

The company is not afraid to stand up to things it disagrees with. On Wednesday, Disney Film Studios announced that it would boycott Georgia if the state brings into law a bill allowing officials to refuse to conduct same-sex marriages, The Guardian reports. 

The California-based company employs about 185,000 people across various divisions, according to its website. 

1. Rolex. RepTrak points: 78.4

Flickr/Alexandre Prévot
Rolex's position as the most reputable brand in the world is due to its incredibly high reputation for products and services. It was in the top 10 for every category. 

Luxury watch brands have suffered over the past year after facing a declining market in China. Consumers in the country bought 40% fewer Swiss watches — including Rolex, Swatch, and TAG Heuer brands — than they did in 2014, Sky News reported. 

The luxury watch brand was founded in London in 1905 before moving operations to Switzerland at the end of World War I.
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Sustainable competitive advantage is your organization’s ability to learn faster than the competition.

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3- Linking learning to appraisals.

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5- Investing in Knowledge
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