Playing catch-up? KM in the financial sector

For an industry so reliant on intellectual capital, it is surprising that the financial sector is perceived to be so far behind in implementing knowledge management. This month we try to gauge how much progress has actually been made, and together with the Your Say feature, there are case studies from Charles Schwab and Skandia, as well as a discussion on the potential value of virtual communities to financial institutions, beginning on page 21. Also this issue, we introduce a new regular column: KM country focus. Each month, we will talk to leading KM practitioners around the world, and ask them about the progress of knowledge management within their country. To start off with, we take a look at the situation in Portugal. As ever, your comments are welcome, so if you have any suggestions about how we can improve the magazine further, please get in touch!

Features

Coaching KM back to health: Learning from the past to create the future Free
Although there are exceptions, most current knowledge management practices actually do more harm than good, and companies are abdicating their responsibility in terms of developing the skills of their employees. So argues Kelvin Moore, who believes the technique of coaching can help practitioners put KM back on track.

KM country focus: Portugal Free
This month Simon Lelic talks to Ana Neves and discusses the impact knowledge management has had in Portugal

Knowledge maps: An intellectual infrastructure for KM Free
Conventional thinking dictates that organisations must make a choice between adopting a codification or personalisation approach to knowledge management, or risk losing customers and/or profits. But Tom Reamy refutes this idea, arguing instead that the real issue is how to create a system that integrates the two in a flexible and systematic way.

Learning while doing: The after action review process Free
In the second article of a three-part series Chris Collison and Geoff Parcell draw on their experience – and their recently published book Learning to Fly – to describe another of their practical tools for learning before during and after any business activity. This month’s article explains the after action review process the tool adopted by BP from the US Army to facilitate ‘learning while doing’.

Needles in a haystack: Using a capabilities catalogue to locate knowledge Free
Trying to find the right information and the right person within a large organisation is often the most difficult step when beginning a new project, especially if your systems and processes create information islands. Keith Cromack describes Raytheon’s attempts to develop a ‘capabilities catalogue’ to make the most of its in-house talent. (WEB ONLY ARTICLE)

Playing catch-up? KM in the financial sector Free
Knowledge management holds considerable promise for the financial sector, an industry that relies largely on intangible products and services, which in turn stem from a company’s ability to harness intellectual capital and foster innovation. Simon Lelic talks to representatives from MMT, Delta Strategies, ICL, Xerox, KPMG, Oracle, Shell International and Unisys, and considers how much of this promise has been delivered.

Strategic competence development: A key to managing knowledge at Skandia Free
Companies are becoming more concerned with linking investments in knowledge acquisition to corporate goals, and this is especially true when the investments are made in employee development and training. Scott Hawkins describes how Skandia has strategically integrated employee learning into the company’s long-term innovation and sustainable growth plans.

Web-enabled knowledge sharing: Virtual communities in the financial industry Free
The demands facing companies operating in the financial sector are changing, while many organisations are struggling to fully realise the benefits knowledge management has to offer. Wido Bosch and Eric Feijen reveal how virtual communities can be used to help compensate for the shift in economic conditions, and describes the steps financial businesses should take to ensure their successful implementation.

Regulars

Book review: Living Strategy Free
Tony Mosely reviews Living Strategy