Read this article to find out three key reasons why actively managing knowledge is important to a companys success. Knowledge management is a discipline that promotes an integrated approach to identifying capturing evaluating retrieving and sharing all of an enterprises information assets.
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Knowledge management is essentially about getting the right knowledge to the right person at the right time.
What is knowledge management how might it be used. The classic one line definition of knowledge management was offered up by tom davenport early on. This in itself may not seem so complex but it implies a strong tie to corporate strategy understanding of where and in what forms knowledge exists creating processes that span organizational functions and ensuring that initiatives are accepted and supported by organizational members. It refers to a multidisciplinary approach to achieve organisational objectives by making the best use of knowledge.
Knowledge management is a systematic process that needs to be ingrained in your organizational culture. These assets may include databases documents policies procedures and. Knowledge management is any system that helps people in an organization share access and update business knowledge and information.
A knowledge management system is a systematic collection of software devices databases people and procedures which is used to create capture store share and use the organizations knowledge and experience. Knowledge management systems are aimed at creating using sharing and storing knowledge and information of an organization. Knowledge management is the process of capturing distributing and effectively using knowledge probably no better or more succinct single line definition has appeared since.
Your knowledge management system might make the difference between an inquisitive shopper and a decisive customer. In this piece well expand on that definition of knowledge management with some concrete examples and then illustrate exactly why knowledge management is such an important area of focus for businesses and for employee support teams like it hr and finance. Knowledge management is an approach by which an organization determinedly and systemically gathers maintains stores examines and shares its collective knowledge and experience.
An established discipline since 1991 citation needed km includes courses taught in the fields of business administration information systems. In order for your knowledge management initiative to be successful it must be approached intentionally. The term knowledge management is one that arose in the 1990s and refers to what duhon an industry expert described in 1998 by saying.
Managers are bombarded with an almost constant stream of data every day. Did you know that when consumers have a need for a new product tool or service 32 of them look to product guides educational content and best practices. Its not something to be done when its convenient or when youre reminded of how important it is.
Knowledge management km is the process of creating sharing using and managing the knowledge and information of an organization. Knowledge management systems can also help convert consumers.