Examples of 7.1.6 Organizational Knowledge: How Successful Companies Leverage Their Expertise

Successful companies understand the value of organizational knowledge. They know that in today’s competitive world, it’s not just about having the right strategy or product. It’s also about leveraging the knowledge and expertise within their organization to make better decisions, develop new products, and improve processes.

So, what is organizational knowledge, and how can companies leverage it? According to ISO 9001:2015, organizational knowledge is the knowledge specific to an organization that is gained from experience, information, and expertise. This includes information about products, customers, processes, suppliers, technologies, and the organization’s own culture and values.

Here are some examples of how successful companies leverage their organizational knowledge:

1. Developing and sharing best practices: Companies that encourage employees to share their experiences and lessons learned can develop a set of best practices. These best practices can be shared across the organization to help others avoid mistakes and improve overall performance.

One company that has effectively leveraged best practices is GE Aviation. The company has a program called “Brilliant Factory” that uses real-time data analytics to identify and share best practices across its manufacturing facilities. This has resulted in improved quality, reduced cycle times, and increased productivity.

2. Creating communities of practice: A community of practice is a group of individuals within an organization who share a common interest or expertise. These communities can be formal or informal and are a great way for employees to learn from each other.

Microsoft has a vibrant community of practice called the Microsoft Technology Center (MTC) that brings together experts from across the company to share their knowledge with customers. The MTCs provide a collaborative environment for customers to learn about Microsoft’s products and services and how to use them to solve business problems.

3. Building knowledge management systems: Companies can leverage their organizational knowledge by developing knowledge management systems. These systems capture and organize information and expertise so that it can be easily accessed by employees throughout the organization.

IBM has a sophisticated knowledge management system called “Knowledge Central” that includes a searchable database of technical information, best practices, and case studies. The system has helped IBM to improve the quality of its products and services and reduce the time it takes to bring new products to market.

4. Investing in training and development: Companies that invest in employee training and development can improve their organizational knowledge. These programs can include formal training, mentoring, coaching, and on-the-job learning.

One company that has a strong focus on employee training and development is PwC. The company has a comprehensive learning and development program that includes on-the-job learning, formal training programs, and coaching and mentoring. This has helped PwC to retain top talent and provide high-quality services to its clients.

In conclusion, leveraging organizational knowledge is critical for companies that want to stay ahead of the competition. By developing and sharing best practices, creating communities of practice, building knowledge management systems, and investing in training and development, companies can unlock the full potential of their organizational knowledge and achieve better outcomes.