Knowledge Banks Essay

301 WordsDec 25, 20112 Pages
A good knowledge base – information in one central location – is extremely important in creating a sustainable competitive edge, especially in very competitive industries like financial services. Knowledge banks open up huge opportunities both to make existing processes and services richer and more efficient, and to create a wide range of innovative new services. If knowledge is the fuel that drives business at the speed of thought, then Corporate Training Partnerships is the vehicle that gets it where it’s needed, when it’s needed. Even regulatory manuals become more accessible in this format. Knowledge Banks can take the format of a CD-Rom or on-line library and are designed be a compilation of knowledge, aimed at helping your staff get the information they need quickly or tackle a variety of issues. Knowledge Bank follows an easy to use format, with a number of sections designed to provide the tools and information needed to tackle complex issues. Accessible over computer networks, knowledge banks provide the equivalent to 24-hour instant access to your most knowledgeable people, your policies and procedures and other important information. Most importantly, when designed correctly, knowledge banks deliver: • Know-how • Know-what • Know-why Is Knowledge an Impediment? Knowledge should be a fodder for progress and not an impediment in progress. It is seen at times that an authority exposed to an overdose of academic knowledge finds it difficult to take decisions, if it is not strictly in accordance with the laid down instructions. In reality, while violation of instructions cannot be permissible, deviations depending on the merit of individual case can be permitted provided it is not detrimental to the interest of the organization or in public interest. Knowledge management must take cognizance of such deviations and encourage such decisions,

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