hy KM Often Fails
Not properly defining KM for the organization Viewing KM as a separate function, versus just a part of business strategy
World class KM programs manage & share both NY Infotoday 5
Overview of Bain and Company
Stockholm Brussels Moscow London Zurich Toronto Paris Chicago Boston Milan Munich New York Madrid San Francisco Dallas Rome Los Angeles Atlanta Mexico City
capture
- Focused, high value investments in intellectual capital - Deep mining of ongoing learnings from projects
The GXC - a great KM system
- Classification/taxonomies - Integration of internal and external content - Integration of learning and knowledge - Powerful search
NY Infotoday
6
Many KM failures over our first 26 years (1973-83)
“Word of Mouth”
(1983-93)
“Experience Center”
(1993-99)
“BRAVA”
Many attempts at KM over our first 25 years But none worked. Examples of our everyday pain…
Trends:
Generic frameworks and data are commoditizing Industry life cycles shrinking More MBAs, low entry barriers competition! Global service is required
NY Infotoday
3
Why KM matters to consulting firms Nature: Two core assets: people and reputation
Our “product” is intangible Global business, but with local differences Partnerships, not hierarchies
Not enough thought before technology
Misguided focus on people and process
NY Infotoday
2
Bain has created a leading KM A good strategy for content creation and capability
Beijing Seoul Tokyo Hong Kong
Sao Paulo Johannesburg
Singapore
Sydney
26 offices, working in 9 languages Over 2,500 consulting staff, “generalist” model Strict conflict and sharing standards
“Knowledge” is a critical capability for consulting firms NY Infotoday 4
Knowledge example in consulting
You’re working in the PC Industry Data
Market size Market share Competitor prices
Tool at Getting Financial Results?
Average of Knowledge 31 Tools Management
Average of Knowledge 31 Tools Management
Source: Bain Management Tools & Techniques Survey (2001)
A lean, value-added KM team that
- makes the process work - fits into existing company structures
A culture of sharing, not hoarding
- Tacit - Codified
Knowledge
The best way to segment the consumer market How to streamline the supply chain Impact of supplier consolidation on OEMs
A commodity
A differentiator
Most executives are not happy KM “How Good is Each Management “How Satisfied Are Youwith with
Each Management Tool?”
Satisfaction (1 to 5) 4.0 3.0 2.0 1.0 0.0 3.76 3.22 3.0 2.0 1.0 0.0 Rating (1 to 5) 4.0 3.55 2.96