What does effective Knowledge Management mean in practice

• All of the knowledge available in the organisation is put to optimum use. The best knowledge is accessible at every place and time it is required.
• The internal market of knowledge producers and users functions optimally.
• Crucial knowledge is successfully converted into fixed capital in the form of processes, structures and patents.
• Knowledge is used successfully in the development of innovative products, processes and services.
• Individual learning experiences (both negative and positive) are turned into knowledge and made available to the staff, who can make use of them. A system of lessons learned and best practices is possible here.
• Any risks regarding critical knowledge are evaluated well in advance.
  Strategy and knowledge policy are well aligned.