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The threat of the Knowledge Economy to traditional business is real. Knowledge
convergence and management of common knowledge are essential to accelerate learning
& innovation, improve time-to-market and maximize service quality. Knowledge
workers with decades of experience can easily migrate to any other location or
organization. People with adaptive minds can park their knowledge anywhere and
become mobile. In many ways, knowledge organizations can lose their vital intangible
assets overnight. Organizations without a KM initiative become vulnerable to the
turnover of knowledge workers and become victim to high-cost operations. The following
are some of the key findings (Source: Mirror Worlds Technologies Inc., New Haven,
Conn.; Gartner Inc., Stamford, Conn.): - When employees leave, 70% of
their knowledge leaves with them.
- Employees spend 30% to 40% of their
time looking for information.
- Redeveloping information that already exists
costs approximately $5,500 annually per employee and the average document is copied
nine to eleven times.
How can any organization survive this level
of energy waste in the face of both price and quality pressures? Embracing KM
is the solution. | 
