Knowledge Management and its Risks

Knowledge Management and its Risks

KnowledgeManagement and its Risks

KnowledgeManagement and its Risks

KnowledgeManagement (KM) refers to the process that involves capture,development, sharing, and using the organizational knowledgeeffectively. KM refers to an approach that aims at achieving theobjectives of the organization within a business environment throughthe use of knowledge, effectively (Information Resources ManagementAssociation, 2012). KM is a well-recognized discipline in thebusiness environment. There are risks however, that are associatedwith it.

Knowledgemanagement in a business environment is often accompanied by risks,which are a result of different aspects for example in terms ofdefinitions, expectations, ownership, and measuring success. Whendefining a business initiative by use of knowledge management of thebusiness environment a person is in, British Academy of Management(2012) noted that risks involved are drifting initiative and anunclear scope of a business venture. Secondly, among the greatestrisks are also as a result of expectations in a business environment.Some of the risks are perceived failures and over-engineeredsolutions. The two risks often occur when a business venture isprojected to be a success.

Knowledgemanagement is associated with business ownership. Business ownershipon the other hand, is considered to associate a greater risk toknowledge management when there is lack of leadership, unreliability,and lack of controlled information within the business environment.Additionally, Academy of Strategic Management (2013) observed thatrisks in ownership are also associated with measurement of success inthe business. Knowledge management recognizes success measurement asa part of business aspect. The risks involved here are the inabilityto know whether or not one has succeeded in a project.

References

Academyof Strategic Management (2013). Academyof Strategic Management Journal.Cullowhee, N.C: Dream Catchers Group.

BritishAcademy of Management (2012). Risksin Knowledge Management.BritishJournal of Management.Oxford: Blackwell Pub.

InformationResources Management Association (2012). The OrganizationalManagement Hershey, Pa: Idea Group Pub. InternationalJournal of Knowledge Management