Knowledge management is a complex model and has the ability to grow and change over periods of extensive stress and adjustment. People in business and company executives should be constantly aware of knowledge management due to the power that it holds in the modern business world. When examining the three-step process of knowledge management; it is important to look at and consider all three steps. The three steps are knowledge accumulation, integration, and finally, reconfiguration. This process is known for its natural ability to promote strategy and practicality over all else; simply because it is oriented around due process. It is also more practical and easier to apply than many other processes of its kind.

These three segments may seem complex if you just look at their names, but they are relatively simple to carry out and understand. This model for managing knowledge reflects a more strategic and practical perspective, as it is process-oriented and most applicable for leading organizations. Knowledge accumulation coupled with integration and reconfiguration ensures that this actually helps companies exchange knowledge to overcome challenging situations in the time of COVID-19. In this specific knowledge management model, organisational knowledge comes first. This is gathered and kept by the creation of fresh knowledge which is in turn collected from ‘intellectual capital’.  It is also collated by acquiring it from outside environments. This process, in turn, can allow those high up in the business to develop and understand the operation of a workplace which is effective. It can be effective in the following ways:

• The company can gather knowledge surrounding fresh products and service in their relevant industry.
• Company performance can be quote on quote ‘benchmarked’ alongside relevant competitors in the industry.
• The gathered feedback can be utilised to improve overall business performance.
• Teams can be used to manage, allocate, and understand resources.
• Training and education courses and programmed can be created and curated throughout this stage.
• Recruitment programmes and career pathways can be curated throughout this.
• Organisational events can be created

If we move to the second point, knowledge can be slowly combined into this process, which enhances the productivity and workings of the process as a whole. Emma Louise, a marketing manager at Draftbeyond and Lastminutewriting, noted that, “Systems within the organisation will improve as this knowledge is integrated internally, and various processes will become more efficient over time.” This process will causes those who are higher up in the business to develop the workplace below them to be effective in the following ways:

• Keeping an eye on organisational knowledge as a whole to keep products and services in line with the relevant regulations.
• The consistent assessment of knowledge within the industries and other requirements to keep up with the industry.
• Connecting shared knowledge within the business to improve other areas in the organisation as a whole.
• Understanding and portraying which areas of the business are crucial knowledge and competence areas, and which are not.
• Working with industry ‘experts’ to understand which areas of the business are working and which areas need work.

Lastly, the previously aforementioned knowledge in organisations must be constantly changed, adjusted, and re-shaped to fit the changing environment around the business. Although it would be nice if everything simply always stayed the same, that is not realistic! Lewis Kirby, a business writer at Writinity and Researchpapersuk, noted that, “The world is changing every day, and the business world more than most. No environment has changed as quickly as COVID-19, making this even more important during this period of time for businesses.” During this stage, the knowledge collected by organisations should be kept within the business and used to improve standing in relation to other competitors. Doing this will assists executive business people in developing their workplaces to be more effective in the below areas:

• Curating knowledgeable and educated partnerships with other members of their industries, in any stage.
• Sharing business goals and ideals with partners outside of the business to curate profitable and ideal partnerships.
• Growing and relating knowledge policies to be more than they are, and increasing them by the day.
• Connecting the systems of sharing knowledge and other shared processes with the relevant partners and people.
• Creating opportunities for connections such as big conferences, shared activities, and other ways for people to share knowledge more informally.

This piece has informally introduced a piece of business knowledge that has always been around but has not become as crucially relevant to business operation until very recently, when COVID-19 hit the world like a rock. Crises like this one change the course of history, and they change the way businesses operate, especially when it comes to the management and procurement of knowledge.

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About the Author:

Estella Friesen is an online content writer for Gumessays.com and Luckyassignments.com Glasgow and has extensive knowledge on both business and marketing topics due to her time in the finance sector.