Knowledge Management and How to Get it Right

It’s the formula you need to succeed.

Friends, knowledge is not the same as information. It’s the difference between a grocery list and a recipe.

To contrast, information is organized data and knowledge is a formula that offers a solution to a problem.

If someone asked you to make the best chocolate chip cookies, you may start by searching for mom’s recipe.

Then you would source the ingredients and follow the instructions until you arrived at the desired outcome.

It’s a silly example, but it conceptualizes an understanding of how to do something. Without the knowledge of how to make chocolate chip cookies, you would be left to experimenting with ingredients.

In consideration of knowledge from a professional standpoint, think about a time when you didn’t know how to do something.

The Opportunity Cost of Searching for Answers

How do I file an insurance claim?

How do I change my dependents on my taxes?

How do I create a Statement of Work for a new client?

Where are the notes from last week’s meeting?

In the examples above, how much time could be saved if people had access to an understanding of how to?

If that knowledge isn’t readily available, then the time it takes to get access to it represents the opportunity cost of doing business, not just for you but also for the people who have to stop what they’re doing to assist you.

According to McKinsey, about 1 in every 5 minutes, during the workweek, is spent searching for information or tracking down colleagues to gain insights.

The Formula You Need to Succeed

Thought is an autonomous function, which means thinking about thinking is not something that comes naturally. And taking the time to do so is called strategic thinking.

Working through the process of how you think ensures efficiency in your actions. Most importantly, when thoughts arise, you know what to do with them. You know where to store them, know how to share them, and how to expand upon them. And, as questions arise, you know where to find the knowledge that will provide you with answers.

That’s why bundleIQ exists; we help connect people to the knowledge they need to succeed.

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