Information on Knowledge Management

Topics: Knowledge management, Management, Data mining Pages: 6 (1248 words) Published: April 28, 2012
Knowledge management|
ByAmr Badrawy|

Definition of knowledge
knowledge is the ability of an actor to respond to a body of facts and principles accumulated over a period of time
Definition of Knowledge management
a multi-disciplined approach to achieving organizational objectives by making the best use of knowledge. KM focuses on processes such as acquiring, creating and sharing knowledge and the cultural and technical foundations that support them. A more simple definition is that knowledge management is the process through which organizations generate value from intellectual and knowledge based assets The development of Knowledge management

Knowledge began to be viewed as a competitive asset in the 80s,around the same time that information explosion started becoming an issue
The trend was fueled by the development of IT systems which made it simple to store, display, and archive classified, indexed information

The process received a fillip after Drucker (and others) stressed the role of knowledge as an organization resource, and Senge popularized ‘learning organizations’

Objective of knowledge management:
The purpose of KM is to gather, categorize, store and spread all knowledge that is needed to make the organization both grow and prosper. It is not as much a technology change as it is a cultural change,

Value of knowledge management :
* Organizations compete increasingly on the base of knowledge (the only sustainable competitive advantage, according to some) * Most of the work is information based (and often immersed in a computing environment) * The products, services, and environment are more complex than ever before * Workforces are increasingly unstable leading to escalating demands for knowledge replacement/acquisition The Knowledge management benefits can be categorized into three which include: * knowledge benefits

* intermediate benefits
* organizational benefits
A typical example would be of an organization such as a manufacturing firm or an academic institution or a government agency which has numerous physical files. Categorization and segregation into working databases allows the employees who need specific information to access the databases more efficiently through word or category searches instead of having to sift through so many folders. Updating of these databases will also result in having the most recent and relevant information and knowledge stored and easily accessible by any employee who may need any specific information These are the benefits which will have an impact on the way an organization thinks and operates to achieve its objective, for example, to provide quality education, quality products and services, or quality programs to bring about the good of civil society. In a constantly evolving and competitive environment, organizations are faced with the problem of having to continuously improve in the area of creating innovative products and service that would meet the constantly evolving needs and wants of their customers. Patronage from customers is the only way ahead for the success of any organization both small and big. Considering the huge number of physical files in an organization example, as the databases are organized the decision maker has the necessary information and knowledge to substantiate or justify research and development initiatives that leads to more innovations which in turn leads to the creation of new products and services. These initiatives may seem a bit costlier for the company in the beginning stages. But if these initiatives when looked at on a long-term perspective help the organization to create products and services and then sell them to a market that needs or wants them. This helps the organization to actually reap the rewards of satisfied customers translating into increased sales revenues which helps offset the initial capital sunk into the research and development initiatives....
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