Knowledge Management

The current Knowledge management mainly focus is not driven by  the commercial pressures  but also the   practical, generally implicit, aspect of the  Knowledge management is  that the efficient people behavior needed for success rests on delegating intellectual authority and tasks  to empowered and knowledgeable individuals.  There are a number of definitions of knowledge management. In essence, all of them are same. Some have been discussed here.

Knowledge management is a system's approach to identify, validate, capture and process knowledge, and then organize the knowledge elements into knowledge assets for business function operations and decision making. Knowledge management is the process of creating economic value from the organization’s intangible assets, namely human capital, structure capital, customer capital, business partner capital, to be ahead of the competition.

Knowledge management is the process of capturing and making use of the organization’s collective expertise developed out of experience for improving business operations and performance. Knowledge management is the discipline of capturing expertise, competencies and skills and storing in databases in the form and kind for dissemination and application for resolving issues affecting the business and its position in the market.

Knowledge management is the process for developing knowledge and knowledge assets to build knowledge strategy, supporting first to build strategy and then its implementation.

The knowledge data base includes customer knowledge, competition knowledge, organization’s product and process knowledge and few more knowledge assets. Assets are triggers for generation of creative ideas to be innovated into practice by implementation. Today's business needs competitive strategies and competitive advantages. The knowledge driven innovation cycle ensures its creation and implementation. Last and most important is the need of continuing research and improvement in the Knowledge Development Cycle. KM teams should make continuous efforts to gather experience of knowledge users for revalidation and improvement to keep sustained effort in using knowledge for business gains.

Questionnaire:

• What is knowledge management? Explain.