Thought for the quarter - Punjab National Bank Institute of ...
Thought for the quarter - Punjab National Bank Institute of ... Thought for the quarter - Punjab National Bank Institute of ...
e-track"knowledge-sharing", (share among team members)and creating an atmosphere of trust. This is achievedthrough a combination of motivation / recognitionand rewards, re-alignment of performance appraisalsystems, and other measurement systems. A key tosuccess in KM is to provide people visibility,recognition and credit as "experts" in theirrespective areas of specialization - while leveragingtheir expertise for business success.enablement is the Knowledge-Portal on theCorporate/Bank Intranet (and extranets wherecustomers, partners and/or suppliers are involved).Common technologies used for knowledge portalsinclude standard Microsoft technologies or LotusNotes databases. A Bank must choose a technologyoption that meets its KM objectives and investmentplan. While technology is a key enabler to KM, it isimportant to ensure that the technology solutiondoes not take the focus away from business issuesand is user-friendly and simple to use.The Process component include standard processesfor knowledge-contribution, content management(accepting content, maintaining quality, keepingcontent current, deleting or archiving content that isobsolete), retrieval, membership on communities ofpractice, implementation-projects based onknowledge-reuse, methodology and standardformats to document best-practices and case studies,etc. It is important for processes to be as clear andsimple as possible and well understood byemployees across the organization. KM technologysolutions provide functionality to supportknowledge sharing, collaboration, workflow, anddocument-management across the bank and beyond.These tools typically provide a secure central spacewhere employees, customers, partners and supplierscan exchange information, share knowledge andguide each other and the organization to betterdecisions. The most popular form of KM technologyProcess of KMKnowledgeidentification/discoveryKnowledgecreation/acquisitionKnowledgeCapture/storage/codification/retrievalKnowledgesharing/transfer/flowTasks/activities requireDefines what knowledge theorganization needs forbusiness success and iden tifieswhat it has and doesn’t have(as well as what it has that itdoesn’t need)Determines where valuableknowledge is being createdwithin the organization anddefines what the organizationneeds to acquire from externalsourcesSupports the capture, storage,and codification of valuableknowledge for effectiveretrievalDevelops a sharing culture sothat knowledge is transferredefficiently to where it isneededJanuary-March2011 6
Problems in implementation of KM process inBanks:e-trackLack of systematic approach in dealing withinformationThough, the banks have recognized Poor network infrastructure for successfulimportance of knowledge management, they are implementation and management offacing problems while implementing this concept. knowledge.Some of the major obstacles in this regard are as Creation of a culture that supports innovation,follows:learning, and knowledge sharing.1) Legacy: Typical closed mindset which over a Networking of internal and external experts inperiod, worked under a controlled order to have the right knowledge at the rightenvironment.time at the right place or find it as quickly as2) Unionism: There are strong unions of bank possible.employees to protect the rights of their A technical infrastructure that supportsmembers. However, in the process, knowledge work from simple knowledgeinadvertently they also have protected support tools to entrants and ultimately moreinefficiencies.sophisticated group ware and decision3) Attitude to “Control”: Development of support.attitude to “Command” and “Control” inBanks, discourage the innovative spirit,Application of KM in Banking:freedom of work, openness in communication,The true applications of KM in Banks can beexpression of views, knowledge sharingviewed by providing the customer, convenienceattitude etc.banking on 24X7 basis by deploying core banking4) Resistances for change by self contendedsolution with integrated delivery channels like ATM,people are major block in the process ofInternet, phone, mobile, Kiosk, call center, AntievolvingKM strategies in Banks.Money Laundering & KYC guidelines. Further, it isApart from all these some of the most common applied to Branch computerization, Wide Areasobstacles are as follow:Networking- Networking of branches under CBS,Lack of balance between knowledge provider Risk Management, Cheque Truncation, Globaland knowledge receiver.Treasury, Securitization, RTGS (Real Time GrossLack of trust among themselvesSettlement), On-line Trading, Mutual Funds, On-Lack of common terminology and sharedline Tax Accounting Systems etc. More over, it canunderstanding of key ideas.be seen in varieties form which can broadly bedivided into following points:Diverse cultures, languages and habits1) To know customers' financial standing andLack of humble acceptance of knowledgebehavioral patternOrganized recognition and reward systems2) Creation of data warehouse and data miningusually do not sufficiently recognizeknowledge contributors.3) For Business InnovationIntolerance against mistakes and lack of help4) For Assessing Loan Riskswhen there is a need5) Customer CentricityUnorganized information6) For Competitiveness7January-March2011
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e-track"knowledge-sharing", (share among team members)and creating an atmosphere <strong>of</strong> trust. This is achievedthrough a combination <strong>of</strong> motivation / recognitionand rewards, re-alignment <strong>of</strong> per<strong>for</strong>mance appraisalsystems, and o<strong>the</strong>r measurement systems. A key tosuccess in KM is to provide people visibility,recognition and credit as "experts" in <strong>the</strong>irrespective areas <strong>of</strong> specialization - while leveraging<strong>the</strong>ir expertise <strong>for</strong> business success.enablement is <strong>the</strong> Knowledge-Portal on <strong>the</strong>Corporate/<strong>Bank</strong> Intranet (and extranets wherecustomers, partners and/or suppliers are involved).Common technologies used <strong>for</strong> knowledge portalsinclude standard Micros<strong>of</strong>t technologies or LotusNotes databases. A <strong>Bank</strong> must choose a technologyoption that meets its KM objectives and investmentplan. While technology is a key enabler to KM, it isimportant to ensure that <strong>the</strong> technology solutiondoes not take <strong>the</strong> focus away from business issuesand is user-friendly and simple to use.The Process component include standard processes<strong>for</strong> knowledge-contribution, content management(accepting content, maintaining quality, keepingcontent current, deleting or archiving content that isobsolete), retrieval, membership on communities <strong>of</strong>practice, implementation-projects based onknowledge-reuse, methodology and standard<strong>for</strong>mats to document best-practices and case studies,etc. It is important <strong>for</strong> processes to be as clear andsimple as possible and well understood byemployees across <strong>the</strong> organization. KM technologysolutions provide functionality to supportknowledge sharing, collaboration, workflow, anddocument-management across <strong>the</strong> bank and beyond.These tools typically provide a secure central spacewhere employees, customers, partners and supplierscan exchange in<strong>for</strong>mation, share knowledge andguide each o<strong>the</strong>r and <strong>the</strong> organization to betterdecisions. The most popular <strong>for</strong>m <strong>of</strong> KM technologyProcess <strong>of</strong> KMKnowledgeidentification/discoveryKnowledgecreation/acquisitionKnowledgeCapture/storage/codification/retrievalKnowledgesharing/transfer/flowTasks/activities requireDefines what knowledge <strong>the</strong>organization needs <strong>for</strong>business success and iden tifieswhat it has and doesn’t have(as well as what it has that itdoesn’t need)Determines where valuableknowledge is being createdwithin <strong>the</strong> organization anddefines what <strong>the</strong> organizationneeds to acquire from externalsourcesSupports <strong>the</strong> capture, storage,and codification <strong>of</strong> valuableknowledge <strong>for</strong> effectiveretrievalDevelops a sharing culture sothat knowledge is transferredefficiently to where it isneededJanuary-March2011 6
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