Book excerpt: While companies search the world over to benchmark best practices, vast treasure troves of knowledge and know-how remain hidden right under their noses: in the minds of their own employees, in the often unique structure of their operations, and in the written history of their organizations. Now, acclaimed productivity and quality experts Carla O'Dell and Jack Grayson explain for the first time how applying the ideas of Knowledge Management can help employers identify their own internal best practices and share this intellectual capital throughout their organizations. Knowledge Management (KM) is a conscious strategy of getting the right information to the right people at the right time so they can take action and create value. Basing KM on three major studies of best practices at one hundred companies, the authors demonstrate how managers can utilize a visual process model to actually transfer best practices from one business unit of the organization to another. Rich with case studies, concrete examples, and revealing anecdotes from companies including Texas Instruments, Amoco, Buckman, Chevron, Sequent Computer, the World Bank, and USAA, this valuable guide reveals how knowledge treasure chests can be unlocked to reduce product development cycle time, implement more cost-efficient operations, or create a loyal customer base. Finally, O'Dell and Grayson present three "value propositions" built around customers, products, and operations that could result in staggering payoffs as they did at the companies cited above. No amount of knowledge or insight can keep a company ahead if it is not properly distributed where it's needed. Entirely accessible and immensely readable, If Only We Knew What We Know is a much-needed companion for business leaders everywhere.