New Cross Industry Study Highlights the Role Knowledge Management Can Play in Driving Growth

CHAPEL HILL, N.C., July 27, 2018 /PRNewswire/ -- Innovative and effective Knowledge Management (KM) can be a significant driver of growth, performance excellence and agility.

A new study by research and consulting leader Best Practices, LLC determined there are many working parts that go into creating an effective Knowledge Management system. Structure, culture, people, technology, incentives and processes all combine to ensure an innovative KM system that effectively supports a company's new products, brand growth and economic health.

In particular, the 80-page report probes the five "pillars" of superior knowledge management: structure and leadership; culture and incentives; processes; technology; staffing and training. According to the study, ample staffing levels, a collaborative culture, integrated technology and an organizational structure that supports collaboration were identified as major drivers of a strong KM organization.

"Accelerating Growth and Performance through Superior Knowledge Management" is a cross-industry study that delivers current insights that will help KM leaders assess the maturity and effectiveness of their company's knowledge management systems – while also providing insights into improving and creating forward-looking enterprise KM capabilities.

Best Practices, LLC engaged 60 leaders from 45 companies distributed across biopharma, technology and other industries in this benchmarking research. The study has two industry segments: pharmaceutical (n=26 companies) and non-pharma (n=19 companies), and three functional segments: commercial, R&D/engineering, and medical.

The study, which contains more than 500 metrics, has chapters devoted to:

• Organizational Structure
• Role of Leadership in Driving Knowledge Management
• Effectiveness of Knowledge Management
• Innovativeness of Knowledge Management Function
• Process Management
• KM Systems that Promote Sharing and Collaboration
• Technologies Enabling Superior KM
• KM Resourcing

To learn more about this report, download a complimentary report excerpt at http://www.best-in-class.com/rr1505.htm.

For related research, visit the Best Practices, LLC Web site at www.best-in-class.com/. 

ABOUT BEST PRACTICES, LLC 
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis.

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SOURCE Best Practices, LLC