January 08, 2001, 2:10 PM — As knowledge management becomes more widely adopted, misconceptions about what it is and isn't have also become more widespread. Author Kathy Curley touches on the Top 10 myths about knowledge management in her upcoming book, A Pocket Manager's Guide to Knowledge Management.
1. Knowledge management is an end unto itself.
In fact, while creating new knowledge, organizing it so others can use it and passing it on to succeeding generations is a defining human trait, business organizations should use knowledge management to build market value and competitive strength.
2. Knowledge management is just for professional services firms and other "intellectual" businesses.
Not so. Knowledge is a big percentage of the value of all goods and services produced in every industry.
3. Knowledge management just means hiring smart people.
While it is true that people are the main sources of knowledge, it's what people do, not just what they know, that adds value to firms.
4. Knowledge management means implementing expensive technology.
Technology certainly plays a key role, especially in distributing knowledge. But technology alone won't improve a company's knowledge management or make it more competitive.
5. Knowledge management means creating huge, unwieldy databases.
It's true that many firms follow the "Grandma's attic" approach to saving any information that might possibly be useful someday. But these aren't the firms that get business value from their knowledge. Knowledge yields value when your people know where it is, know how to get at it; know it will help them; and join in keeping it current, practical and useful.
6. Knowledge management is a "Field of Dreams" -- just build it, and they will come.
In the movie of the same name, a mystical voice tells the main character that if he builds a baseball field in his backyard, the legends of baseball will appear. That voice won't help you with knowledge management. Building a new technology or process for creating and applying knowledge isn't enough to inspire participation in knowledge management or yield business results.
7. Good knowledge management is driven by a good chief knowledge officer or chief learning officer.
The creation, distribution and application of knowledge drives the value of an organization's goods and services and determines its market value. Whether you recognize and cultivate them or not, your knowledge processes are at the heart of your business. They can't be left in the hands of one executive, however effective.
8. Knowledge management is just for Americans.
Because the marketplace is global, the creation, distribution and application of knowledge must also be global and not confined to one region, language or culture.
9. Knowledge management isn't like other good management practices and processes.
Managing knowledge does not mean reinventing management. The elements of effective financial management, such as building theoretical knowledge, developing a shared vocabulary and implementing best practices and processes, also drive effective knowledge management.
10. Knowledge management is a fad.
The term "knowledge managemeent" might fade away or be replaced. But the enormous contribution of knowledge management to business value will only grow and the activities that create value from knowledge will always be vital to success.
