The business benefits of Communities of Practice

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There are lots of business benefits delivered by Communities of Practice

Here are some of the most important

Problem Solving
through solving the problems of the members, a CoP can deliver business value through

• Faster tasks or projects
• Quicker time to competence
• Better individual productivity

Problem Avoidance
through developing approaches which avoid problems and which repeat best-in-class approches,  a CoP can deliver business value through

• Repeated good practice and good performance
• Fewer repeat mistakes
• Greater alignment of practices across a distributed organisation
• Continuous improvement of practices and results

New Ideas
through networked innovation within the community, a CoP can deliver business value through

• Faster time to market for new products and services
• Better market share
• Step change in delivery

Staff retention
through delivering a greater sense of belonging, and through providing knowledge resources to its members, a CoP can deliver business value through

• Lower staff turnover