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An
effective KM program should help a company do one or more of the following:
- Foster innovation
by encouraging the free flow of ideas
- Improve decision
making
- Improve customer
service by streamlining response time
- Boost revenues
by getting products and services to market faster
- Enhance employee
retention rates by recognizing the value of employees' knowledge
and rewarding them for it
- Streamline
operations and reduce costs by eliminating redundant or unnecessary
processes
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