We have discussed the Texas Instruments story already on this blog, and here is an article with a value-figure added.
|Image from wikimedia commons|
"Texas Instruments Office of Best Practices, an organisation that to our knowledge was the first one to build a best practice knowledge base on such a scale.
"The office started its work in 1994, and within three years it had identified over 530 best practices. Its knowledge managers define best practice as ‘a technique, tool, enabler, process or part of a process that works best to improve your situation’. The basic philosophy behind this sharing was summarised by its CEO at that time: ‘We cannot tolerate having world-class performance next to mediocre performance, just because we don’t have a method to implement best practices’ (Davenport & Prusak 1998 p.167).
"Knowing that their knowledge base would need both input as well as users, the office developed a network of 140 best practices-sharing facilitators worldwide. These facilitators gathered and promoted the practices and organised annual ‘sharefairs’ where they handed out the ‘Not invented here, but did it anyway’ award. The office also made great efforts to communicate the best practices through newsletters, e-mails, presentations, etc. Eventually, the internal website attracted a lot of traffic, over 10,000 hits a month in 1996.
"According to the magazine Business Intelligence (1999), the Office of Best Practices saved Texas Instruments over $1 billion thanks to operational efficiency and process improvement"