How should an organization develop an institutional knowledge management capability where the knowledge assets built are those that are in high demand to deliver differentiating value to its customers? The answer lies in creating a Knowledge Marketplace. A knowledge marketplace approach enables an organization to develop institutional capability where knowledge seekers (demand) and knowledge contributors (supply) come together in the knowledge market to build and sustain a self-creating, self-perpetuating, virtuous knowledge cycle.
For example, a leading producer of specialty chemicals for healthcare was facing bimodal workforce challenges involving:
By implementing a knowledge marketplace approach that codifies individual expert knowledge into documented institutional know- how, while simultaneously connecting the new scientists as consumers of the proprietary knowledge to become productive, the organization protected and improved its competitive advantage.
The essential components of a marketplace should include: