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Tracking Tomorrow's Hot Investments through Wiki Collaboration

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Trend Monitoring Program. Identify sources of knowledge ... Trend Monitoring Program. Create ways to capture and share what we know ... – PowerPoint PPT presentation

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Title: Tracking Tomorrow's Hot Investments through Wiki Collaboration


1
Tracking Tomorrow's Hot Investments through Wiki
Collaboration
  • Tracey Carmichael
  • SLA Conference 2007
  • Legal Division Corporate Librarians Roundtable,
    June 6, 2007

2
Introduction
  • The problem
  • Investors put too much of their investment
    portfolios in fad investments whose risks they do
    not fully understand
  • The causes
  • Issuers fail to describe their products
    attributes and risks
  • Advisors dont understand the products they are
    selling
  • Investors dont have the information or skills to
    protect themselves
  • The Commissions response
  • Identify and respond to emerging retail
    investment trends

3
Trend Monitoring Program
  • Identify sources of knowledge
  • Met with staff throughout the organization
  • Consulted with industry
  • Created an inventory of sources
  • Commissioned environmental scan from Investor
    Economics http//www.iei.ca/

4
Trend Monitoring Program
  • Create ways to capture and share what we know
  • Developed user requirements
  • Considered software solutions database, wiki,
    workflow, content management system (CMS)
  • Decided to create a wiki

5
Why a Wiki?
  • Builds information analysis
  • Preserves all the input
  • Records the names of contributors
  • Controls access permissions
  • Easy to use
  • Transparent
  • Exports content in Word or PDF
  • Cheap

6
Emerging Retail Investment Trends Wiki
7
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10
Investment Product Assessment
  • Monthly meeting to assess a new product
  • Topic leader prepares a presentation
  • Preparation includes research and consultations
    with experts more content added to the Wiki
  • Team discussion and planning next steps
  • Continue monitoring or stop monitoring?
  • Take action?
  • investor education, industry compliance, rule
    revision

11
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12
Common Obstacles to Wiki Collaboration
  • Fear of publicly displaying a lack of knowledge
  • Too busy
  • Attracts the young, repels the older generation
  • Over-reliance on referencing the work of others
  • Lack of common frame of reference or professional
    vocabulary
  • Fear of losing power by sharing knowledge
  • Intolerance of mistakes, unproven ideas, etc.

13
Overcoming the Obstacles
  • Focus on recording relevant knowledge, not only
    unique knowledge
  • Accept collaboration off-wiki but record outcome
  • Measure participation and reward it
  • Minimize technical hurdles
  • Get management buy-in and sell the benefits
  • Provide training and support
  • Assign a moderator, editor, or topic leader
  • Start with a committed team, accountable for
    results
  • Tie collaboration to performance management
    system

14
Next Steps
  • Reassess requirements, one year later, and
    consider migrating content to our CMS
  • Redesign wiki architecture
  • Flatten structure for each product
  • Provide better indication of product status
  • Increase participation

15
Questions?Tracey CarmichaelManager,
Knowledge Management ServicesBC Securities
Commissiontcarmichael_at_bcsc.bc.ca
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