In the first of a series of articles, Mark Collins describes some of the key elements required to build an effective knowledge management operation
In the world of legal services, knowledge management (KM) is really just good business management. For KM to succeed, an organisation needs:
- Management vision and a clear commitment to KM.
- A business strategy that incorporates explicit KM actions.
- Resources (both human and technological) to deliver a measurable return on investment.
If you are in the business of selling cakes, the way you buy your ingredients, organise the baking, and manage the decorating and packaging of your cakes is essential to your success. Likewise, if you are a lawyer selling your legal and commercial expertise, then KM is key. In a knowledge economy, if you are selling knowledge, KM is really just good business sense. We need good quality raw materials (law, facts and business intelligence). We need to bake our legal advice carefully and cost efficiently. We should brand and price our product to best effect. KM can help with all of these.
And yet, for so many law firms and
