The Knowledge Category
The Knowledge category focuses on how the organization harnesses information for learning, planning and decision-making, which includes competitive analysis and benchmarking. This helps the organisation to determine performance and drive improvement and innovation for superior performance
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Excellence Indicators – Knowledge Category |
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+ Relevant information is selected and used to support planning, decision-making, and track performance relative to the strategic goals
+ There is an effective approach for collecting and managing information (e.g. business development and financial growth) for strategy development and performance improvement
+ There are systems to capture information and knowledge, which are shared with stakeholders and are used for organisational learning and value creation
+ There are robust systems to ensure the accuracy, reliability and accessibility of information
+ There is a systematic process to analyse comparative data and information to drive performance improvement
+ Information and knowledge used for performance measurement and planning cover all result areas including customer results, financial and market results, people results and operational results
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Assessment Questions – Knowledge Category
KNOWLEDGE
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1 Knowledge Management |
Interpretation Notes |
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How knowledge is generated from information collected, and used to create value for the organization
Describe how the organisation:
a. Collects and manages information for strategy development, decision-making and organisational learning
b. Ensures the accuracy, reliability and accessibility of information |
N1. An organisation may collect information and generate knowledge through various ways, including research, market analysis, employee contributions and incorporation of customer and supplier knowledge |
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2 Analytics for Performance Management |
Interpretation Notes |
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How the organisation leverages on analytics for decision-making, performance management, organisational learning and improvement
Describe how the organisation:
a. Leverages on information and knowledge to create value
b. Conducts competitive analysis and benchmarking to improve performance |
N1. Analytics may include performance trend analysis, projections, comparisons, root cause analysis and cause-effect correlations
N2. The knowledge generated should help the organisation assess the financial viability and potential benefits or gains from its initiatives in relation to associated risks |