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25.Do our people assume that unpopular decisions are based
on valid reasoning?

26.Are we adept at “sell and make” rather than “make and
sell”?

27.Are we finding ways to replace inventories with knowledge?

28.Are we skilled at developing and using scenarios in planning
and training?

29.Have we converted operational know-how into process assets
that give us a clear differentiation from competition and a
recognized leading edge in our markets?

30.Are we first to market when first to market is important?

31.Do we use knowledge to reduce risk?

32.Are we optimizing our human and intellectual capital?

This is not one of those tests that seek to “read your palm” and tell your
future, nor is it in the nature of those that say: “if you have marked any
question with a zero you need to talk to us about our knowledge manage-
ment products and consultancy services”. It is intended to help the Board to
think through this relatively new discipline from a business viewpoint and
to make some early judgements. However, if you score less than 128 in total
you would be well advised to look at each item that you have given your
organization less than 4 and consider what steps you will need to take to stay
ahead of the pack. Knowledge management has the capability of delivering
superior competitive advantage, but not all systems are of equal quality.

n If you have a knowledge management system in place is it
delivering all the potential benefits expressed or implied in the
above?

n If you do not have something in place, should you be thinking of it?

n Are the potential benefits compelling in today’s business
environment?

n Do you need more information from inside or outside the
organization in order to make an informed decision?

n Are there gaps in your management and application of knowledge
that you should and can address without unnecessary investment?

n If you, after considerable due diligence, decide to invest what
benefits, cost-savings and outcomes should you expect?

It is hoped that the assessment may be useful in any discussions with
vendors or consultants, reminding members of the top team to ask:

n How exactly will your product help to give us……………………

n What does it provide that others do not?

n What are the drawbacks in its development or use?

210 Key management questions