Knowledge Management Process Capability and Its Relevance in an Organization

KM process capability and its relevance in an organization.

Knowledge Management (KM) can be defined as a deliberate, systematic business optimization strategy that selects, distills stores, organizes, packages, and communicates information essential to the business of a company in a manner that improves employee performance and corporate competitiveness.
KM caters to the critical issues of organizational-adaptation, survival and competence in the face of increasingly discontinuous environmental change.
Essentially KM embodies organizational process that seek synergistic combination of data, and information processing capacity of information and technologies and the creative innovative capacity of human being
Therefore KM seeks to make the best use of knowledge that is available to an organization thereby creating new knowledge in the process.
From this definition, it is clear that Knowledge Management is fundamentally about a systematic approach to managing intellectual assets and other information in a way that provides the company with a competitive advantage. Knowledge Management is a business optimization strategy, and not limited to a particular technology or source of information. In most cases, a wide variety of information technologies play a key role in a KM initiative, simply because of the savings in time and effort they provide over manual operations.
The essence of knowledge management is to improve organizational performance by approaching to the processes capabilities such as acquiring knowledge, converting knowledge into useful form, applying or using knowledge, and protecting knowledge by intentional and systematic method.
Knowledge management can be understood by innovation process of organization with individual to search for creative problem solving method. The dynamic nature of the new market place today has created a competitive incentive among many companies to consolidate and reconcile their knowledge assets as a means of creating

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