Penny-wise and pound-foolish (KM and otherwise)


“Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.”
Warren Buffett

There is a very real danger that the sponsors of an initiative (in knowledge management or otherwise) do not want to invest too much of their money into some venues, because they are afraid of losing precious resources. Sounds sensible…

Don't! (Credits: ICG team)

Don’t! (Credits: ICG team)

Except that that approach bears the big risk of chasing small economies while achieving nothing, and the investment spared then costs (a lot) more further down the line when it becomes obvious proper money should have been spent on it. Some examples?

  • A company has identified that their website does not reflect adequately its image and that it’s missing some opportunities to do more with the web. A grand new web design is put together, but no plan has been put (lack of money!) into revamping the content generation process… (Very) Costly mistake further down the line!
  • A new project team organises a meeting that will help them decide – with the participants’ inputs – what the strategic direction of their project should be. But no investment has been made into properly designing it. Waste of time (and money) and possibly – err probably – a painful experience for participants
  • A project team working on a theme is best placed to lead what could become a community of practice on that field. There is a real need for that domain but the team is haggling over how much it should invest in properly getting the community of practice facilitated and attended to… too bad: it might mean the end of that nascent network (minding that communities of practice do die too).

The point is not to go ‘all in’ with every initiative that you set up – sometimes having little resource makes you more resourceful anyhow. But once you have identified, in your KM strategy, where are the key leverage points, don’t hesitate and really go for it, and turn these leverage points into successful enablers for useful investments (and pound wise solutions).

Master Sun (Tzu) would say no less about approaching these key battles with full resolution…

“Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt.” (Sun Tzu)

 

So, save your pennies for the futile, but don’t haggle about investing your pounds where it matters. And KM can be that extra mile that brings you back a many-fold return on investment.

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