TABLE 1

FROM:

'Think of others' in knowledge management: making culture work for you

Jay Liebowitz

Table 1. Key factors why organizations embark on KM initiatives

Adaptability/agility:
	Anticipate potential market opportunities for new products/services
	Rapidly commercialize new innovations
	Adapt quickly to unanticipated changes
	Anticipate surprises and crises
	Quickly adapt the organization's goals and objectives to industry/market changes
	Decrease market response times
	Be responsive to new market demands
	Learn, decide, and adapt faster than the competition
Creativity:
	Innovate new products/services
	Identify new business opportunities
	Learn not to reinvent the wheel
	Quickly access and build on experience and ideas to fuel innovation
Institutional memory building:
	Attract and retain employees
	Retain expertise of personnel
	Capture and share best practices
Organizational internal effectiveness:
	Coordinate the development efforts of different units
	Increase the sense of belonging and community among employees in the organization
	Avoid overlapping development of corporate initiatives
	Streamline the organization's internal processes
	Reduce redundancy of information and knowledge
	Improve profits, grow revenues
	Shorten product development cycles
	Provide training, corporate learning
	Accelerate the transfer and use of existing know-how
	Improve communication and coordination across company units (i.e., reduce stove piping)
Organizational external effectiveness:
	Reach to new information about the industry and market
	Increase customer satisfaction
	Support e-business initiatives
	Manage customer relationships
	Deliver competitive intelligence
	Enhance supply chain management
	Improve strategic alliances