Knowledge Audits for Business Knowledge Management

Question: Describe about the Knowledge Audits for Business for Knowledge Management. Answer: Synopsis The course that has focused on various aspects of business analysis gave me a clear understanding of the term knowledge audit. I have learned what knowledge audit is and how it measures the knowledge management of an organization. Therefore, I will now discuss my learning. Critique The knowledge audit is a qualitative evaluation. A proper knowledge audit exposes the strength and weaknesses of an organization. I have understood the ways through which knowledge audit can be done. According to Gourova et al (2012), this process involves answering the following questions. What does an organizations knowledge require? What resources of knowledge the organization have and where are they? What and where is the knowledge gap? How does knowledge flow take place inside the organization? What are the factors that hindering knowledge flow within the organization? The findings of these queries are the monitoring process that a knowledge auditor undertakes. According to Mohapatra et al (2016), both the individual and organizational goals are kept in mind while evaluating. I want to outline the effectiveness of knowledge audit, as opined by Rahman and Shukor (2012), these are as follows: It helps the organization to identify the requirement of knowledge both at individual and organizational level. It judges the knowledge management process based on the evidences. It exposes sets of unexploited knowledge resources. Knowledge audit provides essential information related to the development of knowledge management within the organization It brings out the relation between the organizational objectives and the prescribed or utilized knowledge flow. It creates awareness of knowledge management within the organization We can say that this is how knowledge flow benefits a business organization to gauge the present knowledge management scenario. As soon as the organization realizes what exists and what does not exist, it makes the strategic move. The knowledge landscape map, which is the final result of knowledge audit process, is an essential component for an organization. I have leant about some knowledge audit tools to evaluate the intangible intellectual capitals. As opined by Spong and Kamau (2012), four categories of it are: Scorecard methods Direct intellectual capital Return-on-assets Market Capitalization method However, researchers have proposed various models to measure knowledge management. Reflection I cannot deny that knowledge flow has gained importance with the spread of business globally. The competition has also increased. An organization can only sustain if he has made a proper strategy according to its desired objectives. Knowledge audit as a tool accelerates the process. Reference Gourova, E., Toteva, K. and Todorova, Y., 2012, July. Audit of knowledge flows and critical business processes. In Proceedings of the 17th European Conference on Pattern Languages of Programs (p. 1). ACM. Mohapatra, S., Agrawal, A. and Satpathy, A., 2016. KM Metrics and KM Audit. In Designing Knowledge Management-Enabled Business Strategies (pp. 89-100). Springer International Publishing. Rahman, A.A. and Shukor, N.S.A., 2012. Knowledge Audit Roles and Contributions towards Continuous Quality Improvement: A Review. In Knowledge Management International Conference (KMICe) Johor Bahru, Malaysia. Spong, A. and Kamau, C., 2012. Cross-cultural impression management: a cultural knowledge audit model. Journal of International Education in Business, 5(1), pp.22-36.