Knowledge Risks in Organizations - Insights from Companies

Purpose: Knowledge risks are increasingly becoming a great challenge to a variety of organizations. At the same time, academic research on such types of risks, their consequences, and potential ways of overcoming them is still scarce and fragmented. To fill this gap, the paper aims to find out do companies manage their knowledge risks, what are the possible knowledge risks they face and have they observed an increase of knowledge risks during the COVID-19 pandemic. The paper is aimed to present insights on different types of knowledge risks that organizations face, and the ways organizations handle them. The paper also proposes some potential countermeasures organizations might use to mitigate the consequences of knowledge risks. Methodology: The study presents the results of a quantitative survey performed among 60 professionals dealing with management and knowledge risks in organizations. In the study, the authors also have examined what tools and methods are used to manage these risks. The study also explores the level of readiness organizations have to address potential knowledge risks. Findings: The theoretical study has allowed us to identify a variety of knowledge risks, which can bear severe consequences for organizations, such as knowledge loss, knowledge leaking, knowledge hiding, or risks related to cybercrime. All these risks may potentially reduce the productivity in organizations, thus leading to the degradation of organizational performance. Research limitations: Research results are limited to the convenience sample that was selected for the study and thus may not give a comprehensive overview of the state of the art. Practical implications: The study provides useful insights for managers and owners of organizations in need of dealing with the knowledge risks in their organizations. The paper is enriched with a number of sample solutions that they may apply for the sake of their organization. Originality/value: The paper lays the ground for a better understanding of the knowledge risks that organizations need to face nowadays. As such, the paper offers food for thought for researchers dealing with the topic of knowledge risks, knowledge management, and organizational risk management in general.