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Knowledge Management at Bain Most executives are not happy with KM A v e r a g e of3 1 T ool sK n o w le d g eM a n a g e m e n t 6 2Satis fac tion ( 1 t o 5) A v e r a g e of3 1 T ool sK n o w le d g eM a n a g e m e n t 5 6Rat ing (1 to 5 )“How Satisfied Are You with Each Management Tool?” “How Good is Each Management Tool at Getting Financial Results? Source: Bain Management Tools Techniques Survey (2023) 2 Why KM Often Fails ? Not enough thought before technology ? Not properly defining KM for the anization ? Viewing KM as a separate function, versus just a part of business strategy ? Misguided focus on people and process 3 Bain has created a leading KM capability ? A good strategy for content creation and 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 ? A lean, valueadded KM team that makes the process work fits into existing pany structures ? A culture of sharing, not hoarding Tacit Codified 4 Why KM matters to consulting firms ? Two core assets: people and reputation ? Our “product” is intangible ? Global business, but with local differences ? Partnerships, not hierarchies Nature: ? Generic frameworks and data are moditizing ? Industry life cycles shrinking ? More MBAs, low entry barriers ? petition! ? Global service is required Trends: “Knowledge” is a critical capability for consulting firms 5 Knowledge example in consulting You’re working in the PC Industry Data Knowledge ? Market size ? Market share ? Competitor prices A modity ? The best way to segment the consumer market ? How to streamline the supply chain ? Impact of supplier consolidation on OEMs A differentiator World class KM programs manage share both 6 Overview of Bain and Company San Francisco Mexico City Boston Toronto Chicago Moscow Rome Munich