essay about sharing knowledge

Essays About Knowledge: 5 Examples and 7 Prompts

Discover our guide with example essays about knowledge and helpful writing prompts to inspire you and assist with your next piece of writing.

Knowledge refers to information, facts, and skills acquired through education, life experience, and others. It’s critical in achieving power, wisdom, and respect as it lets us be conscious of our surroundings. Our knowledge sets us apart from others as we apply it to every aspect of our lives, such as problem-solving and skill development.

Since knowledge is a broad topic, it’s used in various writings, such as academic and personal essays . Before writing, ensure you understand the subject, know the proper format, and have the main points ready to add to your piece.

5 Essay Examples

1. long essay on knowledge by prasanna, 2. knowledge is power essay for students and children by anonymous on toppr.com, 3. importance of historical knowledge by kristopher fitzgerald, 4. knowledge is power – essay by kirti daga, 5. knowledge is a lifelong process and leads to inventions by ankita yadav, 1. what is knowledge, 2. the true meaning of knowledge is power, 3. the value of knowledge, 4. how to boost knowledge, 5. knowledge vs. wealth, 6. the effect of insufficient knowledge, 7. how does knowledge help me in my everyday life.

“If there is no knowledge or not acquiring knowledge, such a person is merely existing or surviving and not living. Because to live a life, we are bound to make decisions. An appropriate decision can be made if we have the proper knowledge to analyze the problem and decide it.”

Prasanna defines knowledge as a weapon, shield, and the key to life. It’s something that sustains our existence. She deems that apart from books, one can learn from other people, nature, and even things we think are too trivial to matter. Prasanna includes a quote from Alexander Pope to discuss the importance of having extensive knowledge.

She suggests that it’s essential to apply knowledge to enjoy all of its perks. But ultimately, Prasanna believes that while knowledge is limitless, people should prioritize filling their brains with the information they can share with others. You might also be interested in these essays about leadership .

“… We can say that true knowledge help [a] person to bloom. Also, it keeps people away from fights and corruption. Besides, knowledge brings happiness and prosperity to the nation. Above all, knowledge opens the door of success for everyone.”

In this essay, the author refers to knowledge as something that can create and destroy life and balance on the planet. Although many are educated, only a few know the importance of knowledge. The writer further lists some benefits of knowledge, such as making impossible ideas possible, avoiding repeated mistakes, and realizing the difference between good and evil. Ultimately, the author believes that knowledge makes a person richer than billionaires because, unlike money, no one can steal knowledge.  

“Understanding our past is vitally important to the present and future of our civilization. We must find out to grow from our previous successes and errors. It is humanity to make errors, however the less we make, the stronger and smarter we end up being.”

Fitzgerald explains that understanding history is essential to learning from past mistakes. He points to the results of past failures recorded in books, such as death and damages. In addition, historical knowledge improves our lifestyle through modern technologies and efforts to restore the environment.

By studying the history of the world, people can understand the differences in customs and beliefs of different religions. This knowledge gives way to acceptance and appreciation, which are critical to avoiding conflicts originating from ignorant perceptions.

“Knowledge is power because it is intangible whereas money is tangible. An individual with knowledge is better than a fool with money because money cannot buy knowledge whereas knowledge can carve a part which will ultimately help in gaining loads and loads of money.”

In her essay, Daga provides two situations demonstrating how knowledge is more valuable than money. First, she states that wealth, skills, resources, and talent are useless if one doesn’t have the proper knowledge to use them. Meanwhile, even if you have few skills but are knowledgeable enough in a particular field, you have a higher chance of succeeding financially.

The essay also contains information about general knowledge vital to achieving life goals. It incorporates ways to gain knowledge, including reading books and newspapers, watching the latest news, and networking with people. 

“The whole life we learn and gain knowledge. Knowledge increases day by day. We work on the process of learning to gain more knowledge.”

Yadav relates knowledge to something that makes life beautiful. However, unlike an ordinary ornament, knowledge isn’t easily acquired. Knowledge is a lifelong process that people get from experiences, media, books, and others. It has many benefits, such as creating new inventions that improve society and the country. Yadav concludes her essay by saying that knowledge is a valuable asset. It assists people in achieving life goals and honing their moral values.

7 Prompts for Essays About Knowledge

There are many essays that define the word “knowledge”, you can use this prompt to explain the concept of knowledge in your own words. First, explain its textbook definition briefly, then analyze it using your own words and understanding. To conclude your piece, write about how you intend to use knowledge in your life. 

“Knowledge is power” is a famous quotation from Francis Bacon in his book Neues Organon. It’s a powerful quote that sparked various interpretations. For this prompt, you can compile meanings you see online or interview people on what they think the quote means. Then, compare it with the actual intention and origin of the citation.

Tip : Remember to add your analysis and ask the readers to create their interpretation to involve them in the discussion.

Continuous learning makes us better individuals and opens more opportunities for us. When we do what we can to collect knowledge from various media, we also feel a sense of accomplishment. For this prompt, list the reasons why you want to enrich your knowledge. Use this prompt to show the good and bad sides of cultivating knowledge by including what can happen if an individual applies their knowledge to do despicable things. 

You don’t need to follow a strict program or enroll in top universities to build your knowledge. In this essay, enumerate easy ways to enhance someone’s knowledge, such as having a healthy curiosity, being a reasonable observer and listener, and attending gatherings to socialize. Write down all the possible ways and tools someone needs to acquire more knowledge. Then, explain why it’s essential never to stop learning new things.

At the start of your essay, ask your readers what they prefer: Extensive knowledge or ample wealth? Some will choose knowledge because money runs out quickly. They will argue that knowing how to handle cash will help secure and grow their finances. On the other hand, others will choose wealth and insist that they can hire people to manage their sizable assets. Share what your thoughts are on the question and answer it as well. You can look for surveys, interviews, and other research materials to gather data that can support your reasoning.

Identify the effects of having insufficient knowledge about a specific topic or in general terms. Add any negative results that can stem from this deficiency. Then, discuss why people need to get more knowledge today. For example, people automatically believe what they see on social media without fact-checking.

Tip : You can include steps the government and organizations should take to provide people with the correct information to avoid false claims.

For this essay topic, describe how knowledge assists you in your day-to-day life and enhances your experiences. Ensure to tackle how knowledge plays a part in your decision-making and your pathway in life.

For instance, you watched a documentary about greenhouse gasses and learned about light pollution. So, on bright mornings, you turn off all the lights in your house to decrease your bill and protect the environment .

If you want to use the latest grammar software for your paper, read our guide to using an AI grammar checker.

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Essay on Knowledge is Power: Samples in 100, 200, 300 Words

• Updated on  
• Dec 15, 2023

‘ Knowledge is power’ phrase is derived from a Latin term, which is attributed to Sir Francis Bacon, a well-known essayist of all times. Knowledge is power has been accepted widely and timelessly as it underscores the significance of knowledge in empowering people, societies and countries . 

Benjamin Franklin once said, ‘An investment in knowledge pays the best interest.’ Knowledge not only improves a person’s understanding of the world but also teaches them life lessons to develop decision-making skills and contribute to the betterment of society. Below we have discussed some essays on knowledge is power in different word limits.

Table of Contents

• 1 Essay on Knowledge is Power in 100 Words
• 2 Essay on Knowledge is Power in 200 Words
• 3 Essay on Knowledge is Power in 300 Words

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Essay on Knowledge is Power in 100 Words

‘Knowledge is power’ is a timeless truth. A person with knowledge can empower himself to make informed decisions, enhance personal growth and contribute to the development of society. Knowledge equips us with effective tools to navigate the challenges of life and achieve our goals in real-time. The pursuit of knowledge is education. A person who is educated and has the right knowledge will find success in life. 

The world we live in is driven by knowledge-based education and innovations. From agriculture to healthcare, every activity and field requires you to have proper knowledge and understanding of it. Whether it is at the individual level or global level, people who prioritize education and knowledge enjoy economic prosperity and influence.

Also Read – Essay on Yoga

Essay on Knowledge is Power in 200 Words

Knowledge is so powerful that it can reshape the entire world or destroy it, depending on the purpose for which it is used. The phrase, ‘Knowledge is Power’ was given by Sir Francis Bacon. With knowledge, one can have a profound impact on their life and the people surrounding it.

Knowledge emperors a person in various ways, from personal growth to changes at the global level. With knowledge, we gain new skills, insights and perspectives about a particular subject. This equips us to excel in our chosen field, pursue all our aspirations and fulfil our dream life.

A person with the right knowledge can make informed decisions. If you are someone who possesses broad knowledge about different subjects, it will be very easy for you to critically analyze any situation, weigh options and make choices that best suit your plans. This not only leads to better personal outcomes but also fosters a sense of autonomy and self-determination. Knowledge is considered as the driving force behind progress. Scientific discoveries, technological innovations, cultural evolution and social developments are all fueled by accumulated knowledge. A very classic example of this is the history of human civilization. We must use knowledge knowledge ethically and ensure its equitable distribution or access.

Also Read – Essay on Unity in Diversity

Essay on Knowledge is Power in 300 Words

Knowledge is deemed as the most powerful tool a human possesses. It is the cornerstone of power in our modern society. The universally acknowledged phrase ‘Knowledge is power’ highlights the profound impact knowledge has on individuals and society, and both.

The first thing to know about knowledge is that it is the key to personal development and empowerment. When a person acquires knowledge, they open doors to personal growth and development. Depending on the person’s expertise and field, this empowerment can come in various forms. I person with the right knowledge often finds himself confident, adaptable, and capable of overcoming obstacles in life.

Moreover, knowledge equips you to make informed decisions. We are living in a world which is driven by information. A person who is well-equipped with knowledge about his or her specific field can critically assess a situation, evaluate the options and make choices that best suit their individual needs and values. This not only enhances their personal lives but also fosters a sense of agency and self-determination.

Knowledge is the driving force behind progress, development and innovation. From the time of industrialization to the invention of the internet, knowledge has been the deciding factor for transformative change, improving the quality of life for countless individuals. 

The importance of knowledge is not only limited to individual benefits of scientific discoveries. It also plays a critical role in a country’s governance. It allows you to make informed political decisions, and actively participate in the democratic process. In this way, knowledge serves as a safeguard against tyranny and injustice.

At last, the phrase ‘knowledge is power’ remains a timeless truth that highlights the profound impact of knowledge on a person’s development and societal changes. With this power comes the responsibility to use knowledge ethically and ensure equal access for all, as knowledge remains a vital path to personal and collective empowerment in our ever-changing world.

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The phrase ‘knowledge itself is power’ denotes the meaning that knowing empowers your understanding of the world so that you can make informed decisions for yourself and others. In this way, knowledge is equal to power, as it can help in shaping the future of an individual to an entire country.

Knowledge is considered as an accumulation of information, skills facts and understanding acquired through deep learning, experience and observation. It represents a deep and organised awareness of the world around us, encompassing various fields of knowledge, such as culture, science and technology, history and practical know-how. Knowledge empowers individuals by providing the tools to make informed decisions, solve problems, and navigate life’s complexities. It serves as a foundation for personal growth, innovation, and societal progress, shaping our perceptions and actions. 

A person can improve their knowledge by reading informative articles, newspapers and books, enrolling in courses related to their field of study, attending workshops and seminars, engaging in discussions, etc.

For more information on such interesting topics, visit our essay writing page and follow Leverage Edu .

Shiva Tyagi

With an experience of over a year, I've developed a passion for writing blogs on wide range of topics. I am mostly inspired from topics related to social and environmental fields, where you come up with a positive outcome.

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Essay on Knowledge for Students and Children

500+ words essay on knowledge.

Knowledge is understanding and awareness of something. It refers to the information, facts, skills, and wisdom acquired through learning and experiences in life. Knowledge is a very wide concept and has no end. Acquiring knowledge involves cognitive processes, communication, perception, and logic. It is also the human capacity to recognize and accept the truth. Knowledge can be used for positive as well as negative purposes. Thus knowledge can create and destroy at the same time. One may use knowledge for personal progress as well as the progress of the community, city, state, and nation. Some may use it for negative purposes that may not only harm individuals but can also harm the community.

Importance of Knowledge

* Knowledge is a success – In today’s world without education and the power of knowledge, it is not possible to succeed in life or even keep up with the fast-paced life. It is not just enough to have knowledge on a particular subject to succeed but it is also important to have knowledge about how to use it effectively to succeed. One should have knowledge about various aspects of a subject.

* Personal Development- Knowledge can last for a lifetime and it impacts our growth which influences everything in our life from relationships to work. Knowledge is important for personal growth and development . We can gain knowledge on everything that we find interesting like any dance form, art, architecture, history or just about anything for our personal development. It makes us wise enough to independently make our decisions in life. But it is important to adopt a positive mindset to become a constant learner only then it helps us progress and achieve our goals.

* Knowledge solves problems – problems in life which can be solved with the power of knowledge. Knowledge sharpens our skills like reasoning and problem-solving . A strong base of knowledge helps brains function more smoothly and effectively. We become smarter with the power of knowledge and solve problems more easily.

* Everyday Life- Knowledge is important and useful in day to day events. For example, if I have to buy air tickets online, I need to have knowledge about the various sites and their discounts, their terms & conditions or like online banking. If I don’t have knowledge then I end up paying more. So gaining knowledge is a constant process and is useful every single day.

Get the huge list of more than 500 Essay Topics and Ideas

The process to increase knowledge

Open-Minded- We always learn something new by building on the knowledge that we have. We must always be open to accepting knowledge or information from anywhere we get. It may be from books, virtual media, friends, etc. To move on from one step to another we need to know more. Like in school we start from LKG, KG and then move on to 1st standard, 2nd standard and so on. It builds a strong base.

Reading Magazines- Reading helps to decode text and improves fluency to pronounce the speech sounds clear. Reading gives an idea about different topics and different views about them. One can get the actual global knowledge. Apart from that one can learn many new terms and phrase.

Communication- Shared knowledge allows you to communicate. Shared knowledge is important for communicating and understanding each other. When we discuss a certain topic with classmates, friends or relatives they have certain knowledge about it. So through communication, we get new ideas, facts and develops our knowledge. We can also identify what have we learned and what still we don’t know that helps us to clear our doubts later.

Watch documentaries or educational videos-  Discovery Channel, for example, provides excellent documentaries that keep you engaged. If you don’t like reading, this is an excellent alternative to getting your daily dose of knowledge while still relaxing in your couch!

The more knowledge we have the more power we possess. It is important for our personal and professional development and leads us to achieve success in life. Knowledge helps us in several ways but the best part is that it helps us understand ourselves as well as those around us better. It also helps us act wisely in different situations

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Knowledge Sharing Essays

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Importance of Knowledge Sharing Organisations Essay

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Introduction

What is knowledge, sharing knowledge, information technology, formal and informal interactions among employees.

Knowledge Management has become important in organizations today. However, there has been less attention given to the benefits accruing from it. Moreover, organizations have to spend money in acquiring and improving their knowledge infrastructure, both for hardware and software, while putting less effort into measuring the results. Literature found on the value of Knowledge Management system outlines some of the benefits as follows:

• Time benefit—saving of time in solving a problem due to the contribution of the Knowledge Management system
• Man-hour benefit—saving of person-hours in solving a problem due to the contribution of the Knowledge Management system
• Cost-benefit—a saving of cost in solving a problem due to the contribution of the Knowledge Management system

Before I explore the benefits in detail, I have to look at what is knowledge management and related terms.

Knowledge management is the implicit, explicit and systematic organization of important and shareable information within and with the external environment of an organization. It involves organizing information, finding and investigating, selecting necessary information, filtering and presenting to groups, individuals or to entities with the aim of improving understanding of specific areas of business interest. Therefore, knowledge management involves the process of converting personal knowledge, whether acquired in the learning process or obtained at any quarters, into knowledge for others through the organization of information in the firm. Knowledge management focuses on two objectives that are enabling knowledge sharing within the organization and using knowledge to run communities and institutions. Some knowledge management activities that have been implemented by business organizations have helped them to focus on acquiring, storing, and utilizing knowledge for such things as problem-solving, dynamic learning, strategic planning and decision making ( Graduate School of Business, the University of Texas at Austin,2000 and Blue Ridge Academic Health Group. 2000).

Knowledge sharing among employees is an asset that gives the company sustainable competitive advantage, corporate value and economic growth (Sandra Vera-Mum˜, Joanna and Chee 2006), although the sharing of knowledge may be limited within organizations (Szulanski 2000, 1994; Nonaka and Takeuchi 1995;Von Hipper ,1994).

From a dictionary, knowledge is the awareness and understanding of facts, truths, or information gained through reasoning in the form of experience or learning. Therefore, Knowledge can be an appreciation of interconnected details that, in isolation, are of lesser value and Researchers use diverse expressions to define knowledge (argued Sandra Vera-Mun˜, Joanna and Chee 2006). (Nonaka) (1994) Commented that knowledge consists of justified true belief, Starbuck (1992) defined knowledge as stock of expertise and Elliott and O’Dell (1999) as information in action.

Knowledge is divided into explicit and tacit, Polanyi (1966).

Knowledge is ”know-what,” which can be captured, codified, categorized, and stored and is transmittable (, Stenmark 2000). Tacit knowledge is the ”know-how,” knowledge which is a result of the habitual practices and mental models of individuals ( Polanyi 1997; Nonaka and Takeuchi 1995). Ambrosini and Bowman (2001) summed up that tacit knowledge can not be easily be articulated because it is subconsciously understood and applied, and it resides in people’s minds as intuitions, insights, beliefs, or values. Bonner (2000) and Lee (2000) added that Knowledge in most organizations is embedded and synthesized in people’s minds. This adapted chart shows how a good knowledge system should be: for sharing purposes.

Measuring the value and importance of knowledge in accounting is a classic example.

Sandra Vera-Mun˜, Joanna and Chee (2006), in their article enhancing knowledge sharing in Public Accounting firms they argue that “Explicit knowledge can be shared through verbal or written communication and, thus, passed on to other members of the organization, who in turn must convert it into tacit knowledge before they can use it. On the other hand, tacit knowledge is typically shared through socialization, such as highly interactive conversations, apprenticeship (e.g., observation), storytelling, analogies, and shared experiences and activities ( Stenmark 2000, 10; Zack 1999b, 46; Nonaka and Takeuchi 1995; Nonaka 1994, 1991). Thus, tacit knowledge is effectively shared by allowing the recipient maximum possible opportunities to work alongside the source of the knowledge.” End of the quote. From quotes and discussion, we learn that knowledge sharing, whether explicit or tacit, is vital in the organization, and it requires efforts from both the individuals and enabling environment of the organization.

This adapted diagram shows how a good accounting firm knowledge should in order to allow knowledge sharing.

Factors Affecting Knowledge Sharing and Integration

All organizations make efforts to gather, sort, transform, record, and share the collective knowledge of their employees. However, knowledge in the minds of their staff members will share through consultation, which is an informal and formal interaction. Other knowledge is shared using information technology.

Information technology assists in collecting, codifying and distributing. However, the issue of knowledge sharing is an organizational issue because its success depends ultimately on people, their practices, and their expertise (Salisbury 2003, and Douglas 2002).

Knowledge sharing in organizations is mostly through personal interactions among colleagues, formally or informally. Their sharing of knowledge involves interactions in-office meetings and outside people. This inputs new procedures of work and any other emerging issue relating to work. While firms’ informal groups include associations of employees from some section of the world, get together teams with the aim of assisting each other at times of difficulty. Their interactions are on social terms that are in the process of handling their informal meeting professional knowledge may be passed. This occurs without the other person realizing thus no negotiation of terms and without knowledge of whether or when the other will reciprocate’’ (Molm 2000).

Factors affecting knowledge sharing in formal and informal interactions for firms include.

Organizational Culture includes practices, unspoken norms, beliefs and shared values. This can be summarized as those things that determine the patterns and qualities of interactions between employees at different hierarchical levels (Sadler 1988, 118). Brown and Starkey (1994) argued that the culture of an organization is an important factor affecting attitudes toward communication and communication processes and systems. Many practitioners share this former view as vice-president of strategic planning and knowledge management at the American Institute of Certified Public Accountants (AICPA), John Hudson, equipped that the obstacle to knowledge sharing is not technology but a business culture that rewards keeping what you know close to your vest. Meaning that whatever you know should be kept away from your peers so that you can have a competitive advantage over others in terms of salary and advantages. This means that individuals’ employees are encouraged not to share what they know. (Stimpson 1999, 38–39). Accounting firms should be encouraged to have culture encourage knowledge sharing and eliminate cultures of rewarding employees that does not embrace teamwork. If an employee is good but does not share knowledge, fire him. Thus, cultures and practices that encourage openness and teamwork are a source of successive knowledge sharing in accounting firms. Thus, if partners demonstrate accessibility and openness to discussing sensitive topics, then auditors at lower ranks are less likely to experience evaluation apprehension, in turn increasing their willingness to proactively seek and share knowledge (Sandra Vera-Mun˜, Joanna and Chee 2006).

The criteria used in solving and decision making in the organization also affects sharing of information. All business engagements, explanations, decisions and expectations should be seen to be fair to all. Individuals involved in decision-Making, issue of opinions, their assumptions and ideas being recognized by asking for their opinions and allowing them to refute the merits of one another’s assumptions and ideas. Decisions made should have an explanation to help individuals understand the reasons and thus create faith in management intentions. Sandra Vera-Mun˜, Joanna, and Chee (2006) argued, “Expectation clarity means making explicit the rules of the game”. Studies have linked processes, attitudes, and behaviour. In the research carried out, it has been found out that “executives in their sample were frustrated by the uncooperative behaviour of the senior managers of their local subsidiaries. In particular, the senior local managers often failed to share knowledge and ideas with the top executives. Managers who believed the company’s processes were fair displayed a high level of trust and commitment, which, in turn, engendered active cooperation. Conversely, when managers felt that a fair process was absent, they hoarded knowledge and ideas and dragged their feet in making decisions and executing them. Procedural justice research suggests that to achieve a fair process, the specifics of the new rules and policies matter less than that they are clearly understood. Further, people care as much about the fairness of the process through which an outcome is produced as they do about the outcome itself. In general, a fair process builds trust and commitment, and they, in turn, produce voluntary cooperation. Voluntary cooperation drives performance, thus leading people to go beyond the call of duty by sharing their knowledge and applying their creativity” Sandra Vera-Mun˜, Joanna and Chee (2006).

Role Conflict and Role Ambiguity

Jackson and Schuler (1985) argued that Role conflict and role ambiguity could be sources of work-related stress, and this may affect service delivery to the clients. This occurs when there is no proper definition. Most accountants and auditors expectations are derived from generally accepted accounting principles and other regulations. Sandra Vera-Mun˜, Joanna and Chee (2006) argue that boundaries on the scope of no audit services established by Sarbanes-Oxley may not be completely transparent to some controllers and corporate managers— particularly those of small companies—they may still view auditors as business advisers and, thus, continue to ask for their advice on non-audit-related issues that may compromise auditor independence.” This act changed the role of auditors, and thus role conflict may occur. Another issue of conflict is communication and authority, adaptability, and workflow coordination (Sandra Vera-Mun˜, Joanna and Chee 2006). The writers have written, “For example, proper time allocation is a persistent issue that frequently results in a conflict of expectations between a client and the auditor’s supervisor. This is because an auditor is typically assigned to multiple client engagements, thus requiring careful and thoughtful coordination and management of engagement schedules. Often, unanticipated delays in completing audit assignments are unavoidable due to demands and circumstances beyond an auditor’s control, such as missed deadlines in receiving client information, unresponsiveness of client personnel, and the need for more research to address complex technical issues. A significant delay with a particular client engagement may cause auditors to miss important deadlines with other client engagements. Timely and accurate sharing of engagement progress reports among the auditors, clients, and audit supervisors are an integral component for aligning expectations between and among them” summarizing the role conflict in the formal and informal groups.

While role ambiguity is when in the job specification and description, there is no clarity on job requirements. This is typical in accounting firms like Johnson and associates, auditors are assigned to multiple engagements and work for multiple supervisors with differing or sometimes conflicting management styles and directives Sandra Vera-Mun˜, Joanna and Chee (2006) argues. In this case, conflict affects employees’ abilities to share knowledge with other members of the audit team, and this may cost the firm in terms of performance and service delivery.

Supervision and Feedback

There should be proper supervision and proper feedback on any issue raised. This will enable sharing of information easier and acceptable. Sandra Vera-Mun˜, Joanna and Chee (2006) have argued, “Supervision typically connotes downward communication in the form of advice about task-related matters, such as task instructions, objectives, constructive assessments of preliminary plans and the results of past decisions and provision of feedback. Auditing standards have long required supervision of audit team members”. This is contained in AICPA 1996, AU Section 311, which states that supervision should vary with the nature of the assignment (‘‘the complexity of the subject matter and the qualifications of persons performing the task’’).

The accounting example has used above illustrate the factors affecting knowledge sharing, its benefits and its value. I will add an example of firms in the business of processing. I will no touch issues like factors since they are similar across the divide. The effective Knowledge management system has direct consequences on cost, schedule, safety, and reliability plants for processing. Therefore, in the processing firms, the benefits of integrating and sharing knowledge include (adapted from IoMosaic Corporation, 2003):

• Ensure plant information is available to all users whenever required.
• Ensure plant information is accurate, i.e. kept current with plant changes.
• Decrease the cost of managing, locating, and distributing information.
• Ensure compliance with engineering standards and regulations.
• Enforce standardization and adherence to best practices for critical functions such as Incident Reporting.
• Leverage knowledge in other plant systems for wider benefit.
• Eliminate/reduce errors inherent in paper-based systems, procedures, and work processes.
• Accelerate and streamline plant projects.
• Gain business intelligence/decision support due to knowledge stored and analyzed in the system.

In order to understand the value and importance of KM, one needs to know the factors that affect integration and sharing. Effective KM systems have high benefits with fewer errors, have less redundancy, be quick problem solving, assist better decision making, increase worker independence and improve work delivery. When designing KM, the following factors should be considered:

• Productivity and efficiency.
• Knowledge sharing, skill development and training.
• Competitive advantage, including market visibility as a high-tech firm.
• Ability to direct work to skilled specialists
• Consistency of work product across offices or practice areas
• Faster delivery times
• Quality control.
• Reduced frustration searching for documents
• Client collaboration

1.Ambrosini, V., and C. Bowman. 2001. Tacit knowledge: Some suggestions for operationalization. Journal of Management Studies 38: 811–829.

2.Bonner, D. 2000. Knowledge: From theory to practice to golden opportunity. American Society for Training & Development : 12–13.

3. Douglas, P. 2002. Information technology is out—Knowledge sharing is in. The Journal of Corporate Accounting & Finance : 73–77.

4.Graduate School of Business, University of Texas at Austin. KM Answers to Frequently Asked Questions about Knowledge Management. [online].

5. ioMosaic Corporation (2000)

6.Nonaka, I. 1991. The knowledge-creating company. Harvard Business Review 69: 96–104.

7.Polanyi, M. 1966. The Tacit Dimension . London, U.K.: Routledge and Kegan Paul.

8.Salisbury, M. 2003. Putting theory into practice to build knowledge management systems. Journal of Knowledge Management 7: 128–141.

9.Sandra C. Vera-Mun˜ oz, Joanna L. Ho, and Chee W. Chow, (2006). Enhancing Knowledge Sharing in Public Accounting Firms Accounting Horizons Vol. 20, No. 2 pp. 133–155

10.Stenmark, D. 2000. Leveraging tacit organizational knowledge. Journal of Management Information Systems : 9–24.

11.Szulanski, G. 2000. The process of knowledge transfer: A diachronic analysis of stickiness. Organizational Behavior and Human Decision Processes 82: 9–27.

12.Stimpson, J. 1999. In the know. Practical Accountant 32: 34–39.

13. Evaluating Benefits of KM . Web.

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More From Forbes

Knowledge is power—and why you should share it.

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Knowledge is power, and sharing knowledge is even more powerful.

We’ve all heard that “knowledge is power,” often to the point where it seems like a cliche. While this phrase is originally attributed to the philosopher Francis Bacon, it has been repeated by many throughout history. For example, Thomas Jefferson expanded on the original definition, saying that knowledge also provides safety and happiness.

The idea that “knowledge is power” is used often in the business world, especially in negotiations — but not always for the better. Because knowledge can be a competitive advantage, many are reluctant to share their knowledge with others.

In reality, however, sharing knowledge can create a powerful dynamic that completely alters a business relationship for the better.

How knowledge provides power

In today’s tech-driven world, businesses can gain access to more information than ever. From web traffic to logistics operations, just about everything is tracked electronically — and usually turned into reports given to leadership.

As Thorsten Heilig, co-founder and CEO of paretos , an AI-driven decision intelligence platform, explained in a recent email conversation, “Modern data tools allow businesses of all sizes to extrapolate data into meaningful insights and predictions that can completely alter their decision-making process. This data — this knowledge — ensures that decisions aren’t based on guesswork. Well-informed decision-making enables a company to make the right investments, identify market trends and adapt their operations as needed. Drawing data from all areas of the business enhances these efforts even further.”

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Real-world case studies show this playing out with significant results. Research from McKinsey & Company found that “intensive” users of analytics and data programs were 23 times as likely to gain more customers, 19 times more likely to achieve “above-average profitability” and 6.5 times as likely to retain customers.

Using available knowledge can clearly provide needed power for a company’s internal growth efforts. But once negotiations with a potential partner start, knowledge is often withheld, to both parties’ detriment.

What happens when knowledge isn’t shared?

The negotiations concept BATNA (best alternative to a negotiated agreement) offers some valuable insights into how negotiating parties typically try to avoid sharing knowledge. The BATNA is the best alternative that you would agree to if your preferred agreement can’t be reached. When the other party can only offer outcomes that are less valuable than your BATNA, you know it is no longer worth proceeding with negotiations.

The BATNA serves as a guardrail — or an indicator of when you wouldn’t do business with a potential partner and you would walk away.

Conventional negotiating tactics teach that parties should avoid revealing their BATNA. The argument is that revealing the BATNA gives the other party an advantage, and that you will essentially leave money on the table. However, this mindset is focused on a negotiating process that is adversarial, not collaborative.

In today’s business environment, trust and transparency are crucial for lasting relationships — and sharing knowledge is how that is accomplished.

Sharing knowledge and the dynamic of transparency

To continue with the BATNA example, consider how negotiations would differ when both parties shared this information upfront. In this style of negotiations, the goal is to create value for both parties, rather than simply extract value from a partner.

Sharing your BATNA lays a crucial foundation of trust and transparency in the negotiating process. When both parties share this information, it fosters greater creativity and collaboration in structuring a deal that will benefit everyone in the long-term. It also prevents last-minute “surprises” in late stages of negotiations that could disrupt or alter the deal.

In fact, by sharing this knowledge upfront, the parties could quickly determine that a partnership simply won’t be possible because one (or both) can’t meet the others’ BATNA. If there is no ZOPA (zone of possible agreement) where both parties’ BATNAs can overlap, it is better to seek an alternative.

Writing for Investopedia, Clay Halton gives this example of how shared knowledge can alter negotiations. “Negative bargaining zones can be overcome if negotiating parties are willing to learn about one another’s desires and needs. For example, let’s say Dave explains to Suzy that he wants to use the proceeds from the sale of the bike to buy new skis and ski gear. Suzy has a pair of gently-used, high-quality skis that she is willing to part with. Dave is willing to take less cash for the mountain bike if Suzy throws the used skis in. The two parties have reached a ZOPA and can, therefore, make a successful deal.”

As this example shows, sharing knowledge creates trust and can help foster more creative solutions that adversarial negotiating tactics might make impossible.

Sharing knowledge is true power

While classic negotiating theory focuses on merely identifying guardrails that could affect a business relationship, there is much greater advantage in sharing the BATNA with the other party upfront. By establishing trust and transparency and setting clear expectations during the early stages of negotiations, all parties have the knowledge necessary to know whether this will be a worthwhile long-term relationship.

Win-win relationships don’t happen by accident — especially when the parties involved are actively trying to conceal their knowledge from each other.

While you aren’t necessarily going to share all of your knowledge with a prospective business partner, sharing the information and knowledge that are relevant to your negotiations will create a strong foundation to build from.

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7 Reasons Knowledge Sharing Is Important (+ Ways You Can Get Them All Right)

Ready for a harsh truth? Your business can’t afford to re-learn the things it already knew.

The world is changing too fast. And the skills we need shift just as quickly.

That’s why knowledge sharing HAS to be happening every day.

When people know how things should be done in our business, they have to share it.

And it’s our job - as a business - to capture and organise it, so others can find it.

That is knowledge sharing 101. Because if they don’t, we repeat mistakes, overlook proven tactics, and lose that knowledge when someone exits the business.

This article gives you 7 key reasons why knowledge sharing matters, with advice on how you can do it in practice.

Jump to these reasons why knowledge sharing is important:

• Collaborate and build collective knowledge
• Find better ways of doing things
• Build a community and learning culture
• Create better customer experiences
• Retain knowledge
• Connect remote employees to knowledge
• The feel-good factor of knowledge sharing

Knowledge vs information: 

What’s the difference?

It’s important to clarify this before we dive into the benefits of knowledge sharing .

Information is really just the data or details of something, but knowledge taps into the experience and context of somebody who’s understood and used that data.

Imagine you’re making a cocktail and you’ve got the ingredient list in front of you, you’d be able to attempt some shaking and pouring. But, without a recipe or guidance from somebody who’s trialled, errored and perfected, you wouldn’t know the order, the timings and the techniques needed.

Knowledge sharing makes sure your employees are less shaken, more stirred and ready to win in the day-to-day workflow.

‍ 1. Collaborate and build collective knowledge

You should never underestimate the importance of collaboration, but if you’re having doubts, Go Remotely compiled a fascinating list of statistics on this.

75% of employees think it’s important and that workers now spend around 50% of their time collaborating.

However collaboration exists outside the very simple concept of physically coming together to work on a project - especially in dispersed teams and a world where we’re working asynchronously.

Knowledge sharing is collaborative at its core. You know something that’s built on a solid foundation, and you share that with me so that I benefit from your experience.

Now we’re building a foundation of collective knowledge together!

Tip: How to build a collective brain through knowledge sharing

People can’t learn from what they can’t find! And this is one of the biggest problems in most companies.

Whether it’s siloed systems or employees storing knowledge in personal drives, friction exists for a lot of employees.

And that is one of the quickest fixes you can make today! Find a way to centralise resources so that all your knowledge sharing funnels into a single place.

Now people can find what they need when they need it, and potentially build on the knowledge someone else shared.

In HowNow, we do this by opening up Discussions on content - so that people can add comments - and by allowing companies to add Collaborators to their content.

The goal is to build a collective brain in our knowledge sharing platform , and that can only really happen when we’re bringing everything and everyone together in one place. ‍

2. Find better ways of doing things, together

One of the best things about knowledge sharing is that you can learn from mistakes and make sure you don’t repeat them. 

And tap into your best experiences to make sure you do repeat them! It’s pretty much as simple as that. 

Someone in your team could save someone from making their mistakes. 

A hero could emerge with a best practice that drives someone else’s performance.

On an individual level, knowledge sharing can be a real mood booster - whether you’re helping someone or someone is helping you.

But let’s get down to the business of what knowledge sharing means on a business level. ‍

‍ You are increasing the chances of high-performance. Driving up the likelihood of reaching your goal. Stacking the odds in the favour of getting things right first time. ‍

‍ The question is, how do we ensure we’re doing this more often than not? ‍

Tip: Work with people close to problems to level up your knowledge sharing

Let’s make this clear, the goal of knowledge sharing isn’t for everyone to be shouting about their thoughts on a challenge or project.

That means more noise and less clarity.

Think of it as knowledge sharing for knowledge sharing's sake.

We want the people with a strong understanding of a problem to have an input.

So, the tip is to bring in the person closest to the problem OR the person with proven experience.

Your employee performance data works well in these situations. Because you can look at high-performers in a particular area or the people with the most experience in doing this.

And if you want a good example of this, just look at how Netflix tackle decision-making .

They use an informed captain. Someone close to the problem who can consult others but is ultimately responsible for the final decision. 

This is knowledge sharing done right! The best person for a decision is leveraging their expertise and driving us towards the best outcome.

3. It can build a community and learning culture

Culture of learning, learning community - the holy grail of L&D and HR.

If we had a pound for every time we heard that, we wouldn’t be writing this blog post.

We'd be sipping cocktails on a beach, safe in the knowledge that knowledge sharing was happening back home.

The thing about culture and community is that they’re built by everyday actions. We don’t decide what they are and tell everyone, they grow from our collective behaviour.

And that’s why the habit of knowledge sharing can help us build both.

If we’re sharing what we know with people every day, there’s a natural culture of learning.

Whether we’re jumping on a call together, Slacking advice or sharing a podcast that all fosters a feeling where we’re learning internally as our first port of call.

When that advice helps me do my job better or build a new skill, knowledge sharing has created a positive sentiment to someone else in the business.

And those little moments add up to create a larger feeling of community through knowledge sharing.

Tip: Tell those stories where knowledge sharing has had a positive impact

You can amplify those good feelings! 

If someone sharing knowledge has improved someone else’s performance or helped them grow, that’s a massive win-win.

And while they’ll both get a warm fuzzy feeling when it happens, you can spread their story far and wide.

Now they’ve got the recognition they deserve and others have seen the success that knowledge sharing can bring. ‍

Free Guide! Become a knowledge-sharing organisation in 5 simple steps ‍

4. Create better customer experiences

We often hear that L&D teams want to drive more impact.

And one way of doing that is to work back from the customer experience and their interactions with the product or service. ‍

‍ What does success look like? If we know that, we can deliver relevant resources and knowledge that enable people to deliver it. ‍

‍ Who is delivering that elite customer experience already? Those are people with absolutely golden advice to share with others. ‍

‍ Customer-facing employees are the ones most damaged by friction in finding knowledge and flaws in our knowledge sharing. ‍

‍ By the nature of their job, they’re often reacting to solve an issue or being proactive to add value, but both are time sensitive. ‍

‍ Not only can they not afford delays in finding what they need, they truly benefit from advice and guidance related to the context of your business. ‍

‍ Knowledge sharing achieves this for all the reasons we’ve already mentioned.

Tip: Search for common problems, consolidate your best knowledge

If you’re early in your knowledge sharing journey, this is a great first step.

‍ ‍ If you’re not, it’s a useful exercise to see if you missed anything important. ‍

‍ There will be common problems in your business that don’t currently have consistent or clear guidance when it comes to solving them. ‍

‍ Solving that problem - especially when it comes to customer-related issues - will not only have a huge impact on their experiences, it builds positive feelings towards the idea of knowledge sharing. ‍

‍ Whether it’s cutting down the time to respond to using better message when we do, your employees and customers will thank you for it.

5. Retain knowledge, perform better

Sometimes even our best employees decide to fly the nest.

It never gets any easier to see them go, but knowledge sharing can make it easier to prepare for life without them.

In fact, if we’re doing that proactively and capturing that knowledge, it ensures they don’t head off with all that expertise and experience locked away in their heads.

This is one of the biggest challenges across businesses big and small - siloed knowledge. The idea that only one or a handful of people know how to do something but it’s not documented or captured anywhere.

Before we get into any advice, we have to understand the scale at which knowledge gets lost every day, week, month and year.

Look at these numbers! We are in the era of knowledge sharing on steroids.

• The average Slack user sends 20+ messages per day .
• Employees are in an average of 15+ meetings per week .
• And knowledge workers can receive 1,000+ emails per month .

If you don’t have a robust process for knowledge sharing and capturing, think about the sheer volume of great stuff that gets lost.

And if you correlate that lost knowledge to lower performance and productivity, it's hugely damaging to our organisation overall.

Tip: Capture answers to repeat questions

If a question gets asked more than once, then we have to capture the answer to it.

This is a simple rule of thumb but - like the last tip - it helps you tackle questions likely to have the most impact.

This is how Gymshark built a knowledge sharing culture: ‍

HowNow CEO, Nelson Sivalingam explains how Gymshark used our platform to improve sharing knowledge across teams. ‍

Not only are we tackling the repeat obstacles, capturing knowledge becomes a habit.

And now that people have faith that it’s being captured, they’re more likely to search before they ask. Which fundamentally improves our speed to find relevant information, solve problems and much more.

A knowledge sharing culture isn't simply about a single act, it's about repeating it regularly enough that it becomes the norm in our teams.

6. Connect remote employees to knowledge

More than half of employees (56%) have been unable to find digital documents while working remotely.

Working remotely can be challenging for a lot of reasons, but finding information and collaborating with colleagues are high up on that list.

There are also those concerns that you’re sending too much messages and asking too many questions - which might hold you back from asking for what you need.

Which is ironic considering we're talking about the importance of knowledge sharing!

Not to mention the timezone and flexible working challenges that make knowledge sharing that little bit more difficult.

But if you’re sharing knowledge, capturing it and centralising it in one place, people are able to search before they ask and they’re more likely to find what they need.

In a world where it’s easy to feel like a second-class employee when you’re working remotely, knowledge sharing improves some of the key challenges and barriers.

Tip: Make it easier to work asynchronously and you'll improve knowledge sharing

And we’re talking as simple as collaborating in a shared doc here! Whatever works in terms of removing friction and allowing people to work together.

This is really a case of being intentional about the culture of your company and where there are currently challenges in collaborating with remote employees.

Meetings are a great example, are we using them in the best way to drive knowledge sharing.

Let’s say we’re discussing a new marketing campaign or sales strategy - do we have to present it on a call and then discuss…

Or could we share the plans ahead of time, allow people to compile their thoughts and share them, and then get back on a call to refine and confirm the next steps?

The latter definitely feels like a better use of everyone’s time.

7. The feel-good factor of knowledge sharing

‍ We’ve discussed the morale-boosting benefits of knowledge sharing a few times already, but it’s worth reiterating the point.

People want to be heard! They want their opinion to matter, regardless of where they sit in the organisation’s hierarchy.

Knowledge sharing helps flatten it and give everyone a voice.

Now we’re saying that we’re listening to the people who are an expert in a particular thing, and giving them a platform to share that expertise with others.

Rather than saying those at the top know best!

And a benefit of this is that we’re creating more relevant and applicable content, rather than deciding what’s best for an employee’s L&D.

Whether someone has been with us 2 days or 2 decades, knowledge sharing should be open to all! ‍

Tip: Include everyone! It’ll make them feel valued

Every month at HowNow, we host KnowHow sessions -  a chance for anyone in the company to share what they’re interested in, knowledgeable on or simply passionate about.

Not only are these great knowledge sharing sessions, they give every presenter a voice and every colleague a chance to know them better.

Your task, if you choose to accept it, is to work out how you replicate that feeling in your company.

How do you provide a platform that gives anyone an opportunity for sharing knowledge and feeling valued?

Read the playbook:  Knowledge Sharing In A Fast-Changing World .

Organisation and management are crucial for knowledge sharing

Knowledge management is really the difference between sharing knowledge that people can find and people struggling to find that knowledge when they need it.

We've all been there, looking for a document or some guidance that we just can't find.

Typically, knowledge ends up scattered across a company intranet, shared drives, people’s personal laptop storage, sticky notes in a draw and everywhere else you can imagine.

Now we're definitely not knowledge sharing because nobody can find it in the first place.

That's why we built HowNow to become your one front door for learning! Bringing all those scattered places to the end of one search.

Why? Because how we organise and manage knowledge determines whether or not it’s easy to search for in the moments where people need it most.

Which is how we influence performance and development.

At HowNow, this means using our platform as a central brain for all of our knowledge and resources!

We know you’re itching to go and reap the rewards of sharing that wisdom, so we’ll wrap it up with some of the key benefits of effective knowledge management.

• Put an end to scattered knowledge by bringing all resources into place.
• Allow people to easily search for and find the knowledge they need, when they need it.
• Which boosts productivity and cuts down on repeat mistakes.
• Update and enrich resources with additional updates and information.
• Empower people to make better decisions faster.
• Refine and improve business processes through shared input.
• Communicate important information quickly and ensure you reach everyone!
• Promote consistent and repeatable practices that employees can easily follow.

Want one home for all your learning and skills? HowNow is the answer to your knowledge sharing problems! Book a demo today and we’ll talk you through it.

Check out our other knowledge sharing resources

• 7 reasons why knowledge sharing is important
• How to improve your knowledge base? Make it collaborative
• How to identify knowledge gaps: Answered in 5 minutes
• How sharing best practices can supercharge your company culture
• Plugging your leaky bucket: Stop losing valuable knowledge today
• Knowledge Sharing In A Fast-Changing World: Tapping Into Your Untapped Wisdom
• 5 Steps To Becoming A Knowledge Sharing Organisation
• How To Get People Sharing Knowledge In The Workplace (Four Simple Ways)
• What Is Knowledge Sharing?

Whether you want to improve knowledge sharing, drive engagement or just level up your L&D, we've got two great resources for you:

Subscribe to the L&D Disrupt podcast . Subscribe to the Disrupt with HowNow newsletter .

Peer learning and knowledge sharing

What is ‘knowledge sharing’ and why is it important?

Knowledge sharing is defined by organizations that have processes in place to exchange critical information across the workforce. Organizations that do it really well have a culture of knowledge where employees are encouraged to share what they know with others instead of hoarding it. Team leaders, here's everything you need to know about knowledge sharing, its benefits, and how to encourage it in your company.

Nathan Goldstein

Co-founder of Together

Published on 

December 22, 2021

Updated on 

Time to Read

mins read time

What's the value of getting everyone on the same page? Well, consider the incredible innovations of the 20th and 21st centuries. Movies will tell you it was a lone innovator. In reality, it was the outcome of getting a lot of smart people rowing in the same direction.

That's the essence of knowledge sharing.

But because of the movies, knowledge sharing doesn't get the credit it deserves. Likewise, spreading knowledge across a workforce is only a recent phenomenon:

• In the industrial age , to get everyone rowing in the same direction, you needed clear directions and an autocratic manager to keep everyone in line.
• In the 21st century , things have changed. Knowledge workers need understanding, context, insight, and information to drive innovation.

But we're getting ahead of ourselves.

In this guide, you'll get the run down on knowledge sharing, specifically how to disperse critical knowledge to the people who need it. You'll learn the benefits, see examples, and have the opportunity to start encouraging a knowledge sharing culture at your organization.

A brief introduction to knowledge sharing (from the military)

Before we dive into the article, you need to watch this 7 minute Ted Talk by Stanley McChrystal, the former commander of U.S. and International forces in Afghanistan. If you don't have 7 minutes click the video below to start at 4:40. When you do note what he says. It perfectly sums up the purpose of knowledge sharing:

"You find that information is only of value if you give it to people who have the ability to do something with it. The fact that I know something has zero value if I'm not the person who can actually make something better because of it...instead of knowledge is power...sharing is power."

What is knowledge sharing?

Knowledge sharing refers to the process of exchanging information between people, teams, or organizations. This knowledge may be explicit , which comes from documents or procedures, or tacit , meaning it was developed from experience. Sharing knowledge has benefits for the sharer as well as the recipient. It can create understanding, a feeling of importance, and even help employees grow their leadership skills.

Benefits for businesses that encourage knowledge sharing include becoming more agile and adaptable. Employees engaging in knowledge sharing can develop more effective and streamlined procedures and processes. An employee handbook can be a great way to start. It can also help cultivate a more loyal and productive workforce.

Knowledge sharing is related to knowledge transfer . But knowledge transfer is specifically about how to work out a plan to get critical know-how from employees who are leaving to those who are staying. Organizations should always have a plan for keeping tacit knowledge within their company.

Why is knowledge sharing important in the workplace?

The global pandemic caused waves of disruption to organizations, economies and the world. To meet the challenges, organizations will need to adjust, and it’s not all about developing remote or hybrid workplaces .

Companies will need to focus more on internal development and mobility. According to the LinkedIn report, internal hiring has increased by 19 percent since 2019. Moreover, employees who are given an opportunity for internal mobility stay twice as long as those who aren’t promoted. When you make a new hire, it’s wise to provide knowledge sharing opportunities to equip them for internal job opportunities. Allowing your new hire the chance to share their knowledge and learn from others creates connection as well as a skilled workforce.

Your younger workers are hyper-focused on learning and growth opportunities. Gen Z employees watch 50 percent more learning content than your other employees. Seventy-six of them believe learning is the key to success. To prepare future leaders in your organization, give them a chance to learn from more experienced employees and senior leadership.

Knowledge sharing also improves your remote teams’ performance and wellbeing . Many employees who work from home struggle with collaboration and communication with team members . It’s one of the top problems identified in Buffer’s State of Remote Work report. Twenty percent of those surveyed identified collaboration as a significant issue for remote work. You can overcome collaboration and communication challenges by encouraging more knowledge sharing among employees and remote teams.

Breaking down silos and democratizing tacit know-how

Research has found that knowledge sharing benefits everyone, from your employees to your executives.

One of the key benefits of encouraging knowledge sharing is democratizing learning. By getting subject matter experts together with other employees, you can increase the collective knowledge of the organization. And the collective knowledge will be of best practices and the right way to do things. This is a great way for organizations to get everyone on the same page. And this will reflect in your employees’ attitudes at work and towards your company.

One study found that 94 percent of employees have said they’ll stay at a company longer if there is a learning opportunity. This rings particularly true for younger employees, with 27 percent of Gen Z or Millennials saying they would leave a job if there were no opportunities to learn.

Which employees need to participate in knowledge sharing?

Before embarking on knowledge sharing opportunities for your employees, you need to be clear on what they have to gain. It all begins with understanding who will be involved.

• New hires need knowledge sharing to ramp up in their new role. One-on-one mentorships and peer mentoring are two great ways to help your new hire fit in, learn the ropes, and build connections. Knowledge sharing is key for a great onboarding experience.
• Future leaders don’t often get the training they need to be great leaders. Knowledge sharing and mentorship can set them up for success. They’ll learn vital skills and tips to help them meet the challenges they’ll face. It is also a crucial ingredient to any succession plan.
• Remote workers face challenges around feeling a part of a team and having informal learning opportunities. Connecting with other team members or leaders through knowledge sharing activities can fill this gap. An MIT article encourages organizations to institute water cooler calls “that can reveal experiences and ideas that otherwise would have remained unexpressed — and keep team members connected on a personal level.”

Benefits of knowledge sharing

Employers and employees have a lot to gain from knowledge sharing. Here are some of the main advantages of encouraging it in your organization.

Increase employee engagement

Research has shown that employees love to learn. Offering access to learning opportunities is one of the top ways to increase employee engagement .  This is particularly true for younger workers who demonstrate a commitment to learning.  

Aids employee learning and development

Employees who connect through social learning activities are more successful in retaining what’s learned. Essentially, we learn better when we’re together. And information that is retained is there to be used. In other words, when your employees are able to remember what they’ve learned and use it, you’ll get a more efficient and effective workplace. Yet, many organizations still insist on using solitary study methods like coursework, quizzes, surveys , etc. Social learning is the key that can unlock a more skilled workforce.

Builds a learning culture

Learning cultures make employee development a priority. They demonstrate their commitment to employee growth and learning by providing growth opportunities through mentoring, training classes, and knowledge sharing. Organizations that build a learning culture encourage employees to spend time on development and knowledge sharing activities. That’s because they understand the more employees learn, the more productive and effective they are.

Retain critical tacit knowledge

Tacit knowledge is information that is learned through experience and not through printed documentation, such as policies or procedures . However, it is no less valuable to an organization. It can even be used to redefine processes or procedures in some cases. Yet, unless knowledge sharing opportunities are present in an organization, tacit knowledge can be lost when those with that critical information leave the company.

Examples of workplaces that encourage knowledge sharing

Workplaces that encourage knowledge sharing have done so in different ways, and each has unlocked employee development that has been a boon to their businesses. Here are just two examples of organizations that have encouraged knowledge sharing successfully.

Cooley is a global law firm with 1,500 lawyers, and because their legal work is complicated, they need to have the most talented minds in play. They leverage knowledge sharing by pairing up new lawyers with more experienced ones. Doing this has made their onboarding faster and more effective , bringing new hires up to speed quickly. The experience allows mentors to provide insight that helps younger lawyers learn what they need to do at a much faster rate than on-the-job learning or formal training program . It’s one of the reasons why 95 percent of their employees say it is a great place to work.

Cruise Automation, a self-driving car manufacturer, needs to share niche engineering knowledge about autonomous vehicles. To democratize this knowledge and encourage all engineers to come up with innovative ideas, they pair up their engineering team for monthly meetings to discuss ideas. They’ve found that this knowledge sharing opportunity also prepares employees for internal promotion. Participants of their program noted it allowed employees of all levels and skills to learn from each other.

Make knowledge sharing a part of your organization with mentorship

Sharing knowledge within an organization offers several significant advantages. From employee development to succession planning to reducing turnover, offering knowledge sharing opportunities in your workplace can lead to excellent results and changes.

Employers can encourage knowledge sharing in a variety of ways. One of the more effective ways is mentorship. It’s why over 70 percent of Fortune 500 companies offer mentoring programs for their employees. Knowledge sharing can take different forms, such as:

• Providing feedback , sharing tips, or creating guides between employees
• One-to-one mentorship between leaders and more junior employees
• Flash mentorship and,
• Peer to peer mentorship

Book a demo to see how Together's mentorship software makes knowledge-sharing easy and quick.

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Why the importance of knowledge sharing cannot be overlooked

By Hannah Price

Knowledge hoarders are some of the most frustrating people to work with. Their resistance to sharing knowledge, often because they fear losing their advantage, is completely backwards.

Not only does it hamper the ability for others to learn and grow, it stands in the way of their organization’s success. It dulls their competitive edge.

In this article, we explore the value of knowledge and explain why it should be shared generously across an organization.

What’s the difference between knowledge and information?

To understand the importance of knowledge sharing, we have to understand the importance of knowledge itself and how it differs from information.

In his article on knowledge sharing, David Gurteen gives an exceptional explanation of knowledge with a cake analogy. (And who doesn’t love thinking about cake?)

With this metaphor, it’s a little easier to understand what constitutes knowledge. It’s essentially an enhanced version of information; information that’s been contextualized and combined with experience, intuition, creativity, and more.

The value of knowledge

With David’s analogy, it’s also easier to see the value of knowledge. It gives you the ability to make good use of the information on hand, enabling you to disseminate it accurately and use it wisely.

Knowledge also adds a robustness to your abilities, allowing you to both create and innovate . For example, if you wanted to make a cake but were missing an ingredient, you would be able to make-do with a substitute ingredient if you knew why that ingredient was being used in first place.

With the power of knowledge, an employee is more agile and better able to deal with unforeseen circumstances.

The importance of knowledge sharing

When you understand the value of knowledge, the importance of knowledge sharing becomes a little clearer. Here are just a few reasons it’s considered vital for a successful organization:

1. Build collective knowledge The collective knowledge of a company can be enormous, however it has limited value unless the knowledge is shared. It’s always encouraging when an individual cracks a problem or improves a process. However, if that same problem is plaguing an entire team and the knowledge isn’t shared, the success is limited.

In his academic paper on the importance of knowledge sharing, Faizuniah Pangil wrote:

2. Retain knowledge Today’s workforce is increasingly transient, often moving from one job to the next every few years. If these employees don’t effectively knowledge share at work, their explicit and tacit knowledge will leave the company when they do.

Add to this the large number of baby boomers who are currently reaching retirement age. These individuals are often long-standing employees and executives, with a wealth of irreplaceable knowledge. If this resides only within their own minds, an organization’s collective knowledge will be crippled by their departure.

3. Increase innovation As indicated in David Gurteen’s “know-why” principle, the more knowledgeable individuals are, the more they’ll be able to innovate . The value of this cannot be overlooked in today’s fast-paced business world. A knowledgeable, innovative, and nimble team will quickly separate themselves from the pack.

4. Stay abreast of changes As humankind makes new developments and discoveries, old processes and approaches often become redundant. New techniques replace old ones and knowledge that was once pertinent becomes irrelevant. In this way, a lot of knowledge has a shelf-life. To stay in the game, organizations and individuals need to make the most of the knowledge they have—sharing and absorbing it readily.

5. Help employees feel valued Creating an environment where knowledge sharing is encouraged helps individuals feel valued and heard. When a person is able to give back and contribute to collective knowledge, they can see how their work is truly making a difference. By giving people a stake in the company in this way, not only do you increase their investment in the collective knowledge and improve employee engagement , you make them feel more appreciated as an individual.

The importance of knowledge sharing shouldn’t go unnoticed. It’s essential for organizations that want to stay competitive in the market and individuals who want to expand their skillset. Encourage a culture of knowledge sharing and reap the rewards it delivers!

Want to  create a culture of knowledge sharing at your organization ?

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The Importance of Sharing Your Knowledge With Others

I was recently sent a link to watch this video  about a dynamic speaker who was born without limbs.

After I watched the video, I immediately shared with that person how thankful I was for sharing it with me. The story was an unexpected gift of inspiration.

It made me realize just how important it is to share knowledge and information with others. It is an easy, powerful way to say, “Hey, I thought of you today.” As a recipient, it’s a sweet surprise.

Sharing knowledge and inspiration is equally important in our professional spheres. It can foster vision in others and strengthen professional ties. When you share with others, it helps deepen your own knowledge and engrains what you know. New conversations and opportunities can arise just from that gesture, offering even more opportunities to grow.

Being a part of the workforce for any length of time you surely have some level of professional expertise. You have your own unique set of skills, knowledge and experience. Think about all the ways you can use it to impact others’ lives. Sharing your knowledge with colleagues is a great service. It gives you an opportunity to think about others and not just yourself.

If you want to be seen as a leader in your field you must stand up and be vocal about what you have to offer. When your expertise helps your team, you become a more valuable part of it.

Success isn’t just about what you accomplish in your life. It’s about what you inspire others to do.

Who will you inspire today?

This entry was posted on Tuesday, November 10th, 2015 at 8:49 pm and is filed under Blog . You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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Please note you do not have access to teaching notes, impacts of knowledge sharing: a review and directions for future research.

Journal of Workplace Learning

ISSN : 1366-5626

Article publication date: 15 May 2019

Issue publication date: 15 May 2019

Knowledge sharing contributes to the success of an organization in various ways. This paper aims to summarize the findings from past research on knowledge-sharing outcomes in organizations and to suggest promising directions for future research.

Design/methodology/approach

There was a conduction of a systematic literature review that consisted of three main phases: defining a review protocol, conducting the review and reporting the review. The thematic analysis was conducted on 61 studies, based on which a framework for understanding the impacts of knowledge sharing was developed.

Previous research has investigated knowledge-sharing outcomes at three levels: the individual, team and organization; specific impacts are summarized for each level. The most commonly studied factors affected by knowledge sharing are creativity, learning and performance. Knowledge sharing is also found to have some beyond-convention work-related impacts, such as those on team climate and employees’ life satisfaction. Research on the outcomes of knowledge sharing is dominated by quantitative studies, as we found only one qualitative study in this review. Based on the discussion of the results, promising avenues for further research were identified and a research agenda was proposed. More research on differential, psychological and negative impacts, as well as interactional and methodological aspects of knowledge-sharing, is suggested.

Originality/value

To date, no systematic review has been conducted on the impacts of knowledge-sharing. This paper makes an important contribution to knowledge-sharing research, as it consolidates previous research and identifies a number of useful research topics that can be explored to advance the field, as well as to establish the evidence-based importance of knowledge sharing.

• Knowledge management
• Knowledge sharing
• Knowledge-sharing review
• Knowledge-sharing benefits
• Knowledge-sharing outcomes
• Knowledge-sharing effects
• Systematic literature review

Acknowledgements

This research has been funded by the Academy of Finland grant 295743 for the project “The Impact of Information Literacy in the Digital Workplace”.

Ahmad, F. and Karim, M. (2019), "Impacts of knowledge sharing: a review and directions for future research", Journal of Workplace Learning , Vol. 31 No. 3, pp. 207-230. https://doi.org/10.1108/JWL-07-2018-0096

Emerald Publishing Limited

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The first day of a new job, team, or project is a whirlwind of tiny details. Every question answered spawns three more, and everyone else just seems to know everything. Long-time employees – you’re not immune either. You can be at a company for years and still, with every big change, feel like a stranger in a strange land all over again. When an organization has a habit of keeping its information tucked away and buried in shared drives, written docs, or human brains, this not-knowing is unavoidable whether you’re a newbie or a veteran. A culture full of walls slows down projects, forces employees into frequent and frustrating searches for knowledge, and eats up the time of experts who have to answer the same questions over and over and over. Without a way to store and access the information they need, employees end up stumbling around in the dark. In a survey for the American Management Association, 36 percent of workers said that they “hardly ever” know what’s going on in their companies. Fifty-five percent said they only know what’s going on “some of the time.” 

As Kim Wall, Atlassian team lead for technical account management, puts it, “You might find old data or old knowledge that's not useful anymore,” she explained. “You might not find the answers that you're looking for at all. Even though they live there, you may not find them.”

Essentially, having a bunch of locked vaults of knowledge throughout the company wastes a lot of time – and (cliché alert) time is money.

What is knowledge sharing?

Not to be basic, but we should probably define knowledge sharing before we get into the details of why it’s a good thing. Knowledge sharing is the exchange of information or understanding between people, teams, communities, or organizations. It’s a proactive and intentional act that expands the number of entities in the know while also creating or building upon an accessible archive of knowledge for others.

If you’re writing a book or manual, presenting your research, mentoring, or just having an informal chat with your team, you’re sharing knowledge. Knowledge sharing helps workers and businesses be more agile, adaptable, and better able pivot and ensure ongoing growth and survival.

3 bad habits that hinder knowledge sharing (and the fixes)

As with most deepset habits, people working within a closed off culture may have some trouble letting go of their best-kept secrets. Watch out for these behaviors that might bring knowledge sharing to a screeching halt – and proactively model the vibes you want to see instead.

Habit: Hoarding

The harm: Knowledge is power, and power is job security. Employees who want to feel they’re indispensable may keep what they know hidden to make themselves seem irreplaceable. Some may be driven by competition, worried about someone else getting the credit they believe they deserve. 

The fix: Give kudos. If you regularly recognize and promote everyone’s hard work, you’ll show them as experts in their arena and dull their need to fight for status on their own. They’ll also feel less threatened if they know the company sees them as valuable mentors for new workers or folks on other teams.

Habit: Favoritism

The harm: Who are the most celebrated? Who leads most discussions? An organization built around “rock stars” discourages others from opening up. 

The fix: Spread the love. Recognize that there are likely members of your team who hold vast knowledge, but they aren’t the most vocal or are in roles that don’t call for lots of exposure. Yet, they could be your company’s best leaders. Help them boost their PR by directly asking for their thoughts or to take the lead on a project – an opportunity to share what they know.

Habit: Reliance on the go-tos

The harm: Do you ever say, “I don’t know what we’d do without so-and-so”? That’s a problem. While So-and-so may be proud to be the company’s walking wiki , it’s a burden to have to answer the same questions constantly. These interruptions make your expert less capable of doing great work, and if they decide to walk, all that knowledge goes with them.

The fix: Build your bench. Some companies make it part of everyone’s job to mentor another employee, and even go so far as to tie salary increases and promotions to passing on knowledge. This way, more than just one brain knows how you do as a team or organization. Creating a program like this may be a big cultural shift – and could be too much at once. You may start with interviewing and documenting what your go-to experts know. (We’ll tell you how in a bit.)

If you build it, they will contribute

For this and so many other good reasons, knowledge-sharing systems are a crucial tool in keeping your entire organization in the loop. When people share what they know, your organization will collect all kinds of useful content. This knowledge-sharing system will soon be jam-packed with everything from FAQs and product troubleshooting tips, to high-level documents about the company’s goals and mission. 

With total transparency, teams are able to find and communicate relevant information easily. Not only does it connect the right people with the right content, it cultivates a company culture that shares wins, losses, and lessons. By shining a light on mistakes or disappointments – product launches that didn’t take or reasons why your company’s customers are choosing the competition – all employees benefit.

Some knowledge on types of knowledge

Now that you've gotten real with the state of the state of your company's openness, understand the different types of knowledge you will want to capture. By placing these insights into separate buckets, you’ll have a better sense of how to capture them. (We’ll tell you how to get started too.)  

Tacit knowledge . It’s one thing to be told that a stove is hot and quite another to get that lesson while running to the ER after placing your hand on it. Some things you just have to figure out by doing – that’s tacit knowledge. Think about how much we pick up just going about our day-to-day jobs. It’s the most valuable information for businesses and the toughest to pin down. You don’t know what you don’t know until you need to know.

Capture it: Harnessing all the business-driving stuff inside the heads of your employees is hard, and not a perfect science. But there’s hope. You can recruit an interviewer who can ask the deep-dive questions of your veteran employees, document their answers, and store them in a best practices hub within your knowledge-sharing system. 

That was a lot of words. Here’s how this might play out. Vernon is one of your top support reps who has been solving issues for your customers for several years. He always gets five-star ratings no matter how dire the reason your customers call in. How is he doing this?

Have an interviewer sit with Vernon to learn what is beyond the talking points or trouble-shooting guide. What are the special things that Vernon is doing to please callers? Throw him some scenarios and see what he comes up with. Gather up his answers and share them broadly in your knowledge-sharing system, social intranet , or internal wiki and encourage everyone to use it so we don’t all lose it. (Bonus: Vernon will feel incredible and may be more proactive with sharing his approaches in the future and/or encourage others to do so too.)

Here’s one way we gather tacit knowledge at Atlassian. “We have something that we like to call conversation guides,” explains Wall. “We'll sit on a call with the person who just knows this stuff to their bones and write down every single thing that that person asked the customer, every single phrase, and all of the concepts. Then we try to formulate it into something that other people can use, so that they get that base level of knowledge without having had to live in those shoes for 15 years.”

Explicit knowledge . Also known as “codified knowledge,” this is information that has moved out of the brain and into written or audio form. It’s now available for mass access and consumption. It’s the stuff you likely already have ready to go, such as the employee handbook, whether we work the day after New Year’s, and how the heck to get that printer to stop jamming.

Capture it: Good job on preserving these important assets in some documented form. Now make sure they’re findable and current, so that they deliver long-term value. You can’t really blame the events team for ordering 500 company t-shirts with the old logo if that’s what they found in your files.

Skip the shared drives (which can be a document black hole) and bring on a solution that makes updating and sharing knowledge easy and fast. Tools like Confluence , an open platform for creating, sharing, commenting on, and archiving all content, can help. 

Implicit knowledge . These are the unwritten how-to’s of the office that originate in the processes and routines of the everyday. These tidbits turbocharge you into getting things done smoothly and efficiently – and appropriately within your company’s culture. “It lives in how you run the business,” says Wall. “It’s what everyone knows.”

It’s the difference between creating a project plan in Google Slides when the culture prefers using Trello boards. It shows newcomers how to be as they ramp up on their work function and saves them from having to ask questions like whether it’s ok to Slack the boss after 5 or if anyone minds if you turn off your camera during video conference calls.   

Capture it:  This one is a toughy since a lot of the “how we do” details stem from living and breathing the company culture and infusing it every email, project, and presentation. Your mission and vision statement can serve as high-level guidelines of what everyone should put first in their day-to-day interactions. You also want to grab and share specific ways of working that trip people up. 

One way to do this is to survey your employees asking “What about the way our teams work did you wish you knew on day one?” and gather feedback. Then consolidate the answers into best practices docs that you can then share broadly to new hires as well as current employees.

Now that you know what you know about knowledge-sharing

Knowledge sharing isn’t a one and done; it needs to be embedded into the fiber of your company so that valuable information doesn’t vaporize, become locked in silos, or disappear when a veteran moves on to their next adventure. 

You might think that you’re all set up to keep business-driving knowledge forever and ever, but take an honest look and see if your organization encourages employees to keep their cards close to their chests. Run through the practices we’ve talked about, but equally important, see how you can model the change you want to see. 

Here’s some homework: have thoughts about how to improve the knowledge sharing practices in your company? Share them (and this article, why not?) with your team right now and kick off the dialogue. Go, go!

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Knowledge grows step-by-step despite the exponential growth of papers, finds study

Scientific knowledge is growing at a linear rate despite an exponential increase in publications. That’s according to a study by physicists in China and the US, who say their finding points to a decline in overall scientific productivity. The study therefore contradicts the notion that productivity and knowledge grow hand in hand – but adds weight to the view that the rate of scientific discovery may be slowing or that “information fatigue” and the vast number of papers can drown out new discoveries .

Defining knowledge is complex, but it can be thought of as a network of interconnected beliefs and information. To measure it, the authors previously created a knowledge quantification index (KQI). This tool uses various scientific impact metrics to examine the network structures created by publications and their citations and quantifies how well publications reduce the uncertainty of the network, and thus knowledge.

The researchers claim the tool’s effectiveness has been validated through multiple approaches, including analysing the impact of work by Nobel laureates.

In the latest study, published on arXiv , the team analysed 213 million scientific papers, published between 1800 and 2020, as well as 7.6 million patents filed between 1976 and 2020. Using the data, they built annual snapshots of citation networks, which they then scrutinised with the KQI to observe changes in knowledge over time.

The researchers – based at Shanghai Jiao Tong University in Shanghai, the University of Minnesota in the US and the Institute of Geographic Sciences and Natural Resources Research in Beijing –found that while the number of publications has been increasing exponentially, knowledge has not.

Instead, their KQI suggests that knowledge has been growing in a linear fashion. Different scientific disciplines do display varying rates of knowledge growth, but they all have the same linear growth pattern. Patent growth was found to be much slower than publication growth but also shows the linear growth in the KQI.

‘Hidden’ citations conceal the true impact of scientific research

According to the authors, the analysis indicates “no significant change in the rate of human knowledge acquisition”, suggesting that our understanding of the world has been progressing at a steady pace.

If scientific productivity is defined as the number of papers required to grow knowledge, this signals a significant decline in productivity, the authors claim.

The analysis also revealed inflection points associated with new discoveries, major breakthroughs and other important developments, with knowledge growing at different linear rates before and after.

Such inflection points create the illusion of exponential knowledge growth due to the sudden alteration in growth rates, which may, according to the study authors, have led previous studies to conclude that knowledge is growing exponentially.

Research focus

“Research has shown that the disruptiveness of individual publications – a rough indicator of knowledge growth – has been declining over recent decades,” says Xiangyi Meng , a physicist at Northwestern University in the US, who works in network science but was not involved in the research. “This suggests that the rate of knowledge growth must be slower than the exponential rise in the number of publications.”

Meng adds, however, that the linear growth finding is “surprising” and “somewhat pessimistic” – and that further analysis is needed to confirm if knowledge growth is indeed linear or whether it “more likely, follows a near-linear polynomial pattern, considering that human civilization is accelerating on a much larger scale”.

Due to the significant variation in the quality of scientific publications, Meng says that article growth may “not be a reliable denominator for measuring scientific efficiency”. Instead, he suggests that analysing research funding and how it is allocated and evolves over time might be a better focus.

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13 ACCA Papers & Exemptions: Everything You Need to Know

Are you wondering what it takes to be at the top of the Accounting and Finance industry? Discover these 13 ACCA Papers covering critical areas of finance such as Accounting, taxation, and audit. In this blog, we will also learn about the exemptions and how they can impact your journey, helping you build a successful career in the dynamic field of finance.

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The ACCA qualification opens doors to a thriving career in finance. It covers 13 essential ACCA papers and crucial areas like financial accounting, management accounting, taxation, and auditing. This comprehensive programme equips you with the expertise needed to excel in the ever-evolving finance industry.  

Understanding potential exemptions can fast-track your journey to becoming a qualified professional. Join us as we explore the 13 ACCA Papers that will pave your way to success in the finance world. Let’s get started! 

Table of Contents 

1) The Importance of ACCA Papers 

2) ACCA Exams Structure 

   a) Applied Knowledge Papers  

   b)  Applied Skills Papers  

   c) Strategic Professional Papers 

3)  Conclusion 

The Importance of ACCA Papers  

The ACCA qualification is a highly regarded credential in the Accounting and Finance industry. It consists of 13 papers covering a wide range of topics. These papers provide a strong foundation for aspiring accountants to develop their skills. Candidates may be eligible for exemptions from specific exams based on their academic background. 

This qualification equips individuals with the expertise needed to excel in their careers and offers many opportunities for professional development and networking within the global accounting community. The ACCA qualification is a gateway to a successful career in Accounting and Finance, offering a detailed framework for professional growth and a chance to connect with a global community of like-minded professionals. 

ACCA Exams Structure 

The ACCA exams are divided into three primary levels: Applied Knowledge, Applied Skills, and Strategic Professional. As you progress through these levels, the exams become increasingly challenging, and pass rates tend to decrease. So, be prepared for a tougher journey as you advance. 

Applied Knowledge Papers 

The Applied Knowledge exams offer students a comprehensive introduction to finance, helping them build a solid foundation in accounting principles and techniques. These exams are designed to develop your essential understanding and skills in accounting. 

Exemptions 

Business and Technology (BT) 

This paper focuses on understanding the business environment, the role of accounting in business, and the influence of technology on business operations. 

Management Accounting (MA)  

This paper covers management accounting principles, including budgeting, costing, and performance measurement, which are crucial for internal business decision-making. 

Financial Accounting (FA) 

This paper deals with the fundamentals of financial accounting, including preparing financial statements and financial reporting principles. 

Applied Skills Papers 

The Applied Skills exams enhance your knowledge and understanding, equipping you with robust, comprehensive, practical finance skills essential for a future strategic professional accountant in any sector or industry.  

Exemptions: 

Corporate and Business Law (LW) 

This paper focuses on businesses' legal framework, covering contracts, employment, and company law. 

Performance Management (PM) 

It Covers Management Accounting techniques to help businesses plan, control, and make decisions, including budgeting and performance evaluation. 

Taxation (TX) 

It deals with the principles of taxation and its application to individuals and businesses, including Income Tax, Corporation Tax, and VAT. 

Financial Reporting (FR) 

This paper focuses on preparing and interpreting Financial Statements according to International Accounting Standards. 

Audit and Assurance (AA) 

This paper Covers the principles and practices of Auditing, including the Audit Process, Internal Controls, and Audit Reports. 

Financial Management (FM) 

It Deals with Financial Management Principles, including Investment, Financing, and Dividend Decisions. 

Strategic Professional 

The Strategic Professional exams are designed to prepare students for future leadership roles. They help develop a strategic vision by combining technical, ethical, and professional skills. Students can also specialise in areas that align with their career goals. To complete this level, students must pass both Essentials exams and select two from the Optional exams. These exams include: 

Strategic Business Leader (SBL) 

This paper Integrates leadership, strategy, and risk management to develop a strategic vision and lead organisations effectively. 

Strategic Business Reporting (SBR) 

It focuses on Advanced Financial Reporting, including interpreting and applying International Accounting Standards. 

Optional or Elective Papers:  

Advanced Financial Management (AFM) 

It covers Advanced Investment, Financing, and Risk Management Strategies to support long-term Financial Decision-making. 

Advanced Performance Management (APM) 

This paper focuses on strategic performance measurement and management, including Advanced Management Accounting techniques. 

Advanced Taxation (ATX) 

It Deals with complex tax issues and planning, including International Taxation and Tax Strategy. 

Conclusion 

Securing the right qualifications is extremely important in the fast-paced world of Finance. The ACCA qualification will equip you with the knowledge and skills to flourish in this field. These 13 ACCA Papers cover various Finance areas, including Financial Accounting, Management Accounting, Taxation, and Auditing. Studying these papers will help you to build a robust foundation in essential regions, paving the way for a successful career in Finance. 

Frequently Asked Questions

Both are challenging. The difficulty of ACCA vs CA depends on individual strengths and preferences. ACCA is globally recognised and focuses on international standards, while CA is country-specific and focuses more on local laws and regulations.  

Completing ACCA in 1 year is highly challenging due to the number of exams and the depth of content. Most students take 2-3 years, depending on prior qualifications, study time, and exam success. 

The Knowledge Academy takes global learning to new heights, offering over 30,000 online courses across 490+ locations in 220 countries. This expansive reach ensures accessibility and convenience for learners worldwide.  

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