Knowledge is power: Managing organizational knowledge in challenging times with BS 34401

SME Publications/ SME XPO 2024

We are increasingly living in a knowledge economy where information is what drives business decisions. Organizations today are competing less based on tangible assets and more based on intangible assets. Now more than ever, effective knowledge management can set a business apart from the rest.

Knowledge management remains one of the top three issues affecting company success and has become even more essential with the post-pandemic growth of remote and hybrid working. By recognizing and treating knowledge as an organizational asset, businesses can increase collaboration, be more agile in fast-paced environments and make informed decisions to boost their capabilities and innovation.

BS 34401 Knowledge management. Application of BS ISO 30401. Guide – Guidance on the application of BS ISO 30401 has recently been published to provide guidance on the implementation of BS ISO 30401 Knowledge management systems. Requirements.

It serves as a useful tool for anyone looking to apply BS ISO 30401 or for anyone who would like to deepen their understanding of knowledge management more generally.

What is a BS ISO 30401 knowledge management system?

Knowledge management is about producing valuable results from well-applied knowledge.

Having a knowledge management system in place involves storing and retrieving knowledge to improve understanding, collaboration, and process alignment. They can exist within organizations or teams, but they can also be used to centre your knowledge base for your users or customers.

There are many well-known barriers to successful knowledge management that still need to be overcome. Confusion with other disciplines such as information management, and many common misconceptions about how to manage knowledge management, for example, the view that simply buying a technology system will be enough for knowledge management to add value.

BS ISO 30401 sets the international requirements for establishing, implementing, maintaining, reviewing, and improving an effective management system for knowledge management in organizations. Its purpose is to support organizations to develop a management system that effectively promotes and enables value-creation through knowledge.

BS ISO 30401 serves as:

  • Guidance for organizations that aim to be competent in optimizing the value of organizational knowledge
  • A basis for auditing, certifying, evaluating, and recognizing such competent organizations by internal and externally recognized auditing bodies

Adopting knowledge management best practices is also a key enabler to help organizations meet the UN Sustainable Development Goals (SDGs). By sharing good practice and knowledge with partners and experts, you can identify relevant solutions and scale these up effectively, helping the global effort towards sustainable development.

To learn about our key innovation management standards, read our article ‘How can organizations create a culture of innovation?

Strengthening the standardization of knowledge

Organizations need to take steps to safeguard organizational knowledge in the ranks, especially with the new hybrid workforce.

To help organizations fulfill the full potential of the best practices outlined in BS ISO 30401, we have published a guidance documentBS 34401.

BS 34401 gives detail on what a management system standard (MSS) is, analyzing key features and benefits. It expands on the fundamentals of knowledge management, by giving commentary on the terminology used in BS ISO 30401 and clarifying the requirements given.

Furthermore, it provides examples and guidance on how various types of organizations might approach the different requirements of BS ISO 30401.

Get the most out of your knowledge management system by adding BS 34401 to your collection today.

 

SME Publications/ SME XPO 2024