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Strategic alignment: A knowledge management approach to crisis management.


Description

Although some firms manage to survive for hundreds of years, research indicates that the average life span of a firm is eighteen years. Such a finding leads researchers to question how some organizations manage to survive for hundreds of years while others survive for less than twenty. Although it is unclear the specific mix of factors that are responsible for organizational demise, the damage caused by various business crises is believed to account for a considerable portion. Everyday business crises are responsible for not only tremendous business losses but also overall organizational decay. These business crises could have been prevented or their impact lessened if knowledge of their contributing factors was known and managed. Based upon this observation, it is argued that better knowledge management can help organizations anticipate these factors and design thoughtful policies to lessen the impact of such events.