Knowledge Management in Digital Era - A Case Review of Large Consulting Firms

Abstract

In this competitive fast-paced world where technology is changing with the blink of an eye, to be competitive and successful, it is seen that enterprises must create and sustain a balanced intellectual capital portfolio. Many organizations are now realizing that their competitive edge lies mostly in the brainpower - the intellectual capital - of their employees and management. To stay ahead of the pack, companies must leverage their knowledge, internally and externally. The Covid-19 pandemic has forced a quantum leap for digital adoption at any level or department be it industry or any organisation. However, effective digital transformation requires expertise. The most valuable resource of an organisation that is human capital, including their knowledge, should always be cared for and developed upon. The paper studies the communication and networking of employees and managers to combine their knowledge and creativity in the KM framework and challenges they face in the digital era. This study assesses the potential of knowledge management to support organizations in achieving their goals and the possible barriers these may face while implementing KM strategies. The same is done by looking at major consulting firms like Deloitte, Ernst and Young, and Mckinsey. The aim is to study the explicit knowledge of the employees and hurdles in sharing this knowledge. It also examines the role of interventions and recognition and reward in influencing knowledge-sharing views and behaviors of employees.