Knowledge in today’s world is the most valuable asset. Knowledge provides immense capability to individuals and also to organizations in taking right decisions and doing things right. Knowledge comes from new lessons learnt, new experiences, new explorations and new activities which we carry out. Knowledge can be existing knowledge and also new knowledge. There is a greater need for ensuring existing knowledge is available to us for all our future work and any new knowledge that we create are collected and are made readily available to the whole organization in their current and new work.
While we create abundance of knowledge from our work, ironically very often knowledge is not collected and stored and is not made available to people and organization who can benefit from this. Much of knowledge somehow gets lost and never formally gets collected and stored.
In today’s modern organizations, there is a greater emphasis now on knowledge management. Wherein both culturally as well as strategically there is a focus on collecting all new knowledge and storing all these knowledge and making them readily available to the organization as when they are needed. Knowledge management thus makes global organization truly learning organizations and which in turn makes them much more responsive and efficient.
Knowledge management is the process of creating, sharing, using and managing the knowledge and information of an organisation. It refers to a multidisciplinary approach to achieving organisational objectives by making the best use of knowledge.
Knowledge management will require data collection, data organization, data analysis, data summarization to create meaningful information and insights. The new information and insights will lead to new knowledge. The process of knowledge management uses automated tools and techniques to collect and process huge amount of data that is available in today’s organizations.
There are two major classification/category of knowledge as below:
Managing explicit knowledge can be easier while capturing and managing tacit knowledge will always be challenging.
Knowledge management broadly will focus on collecting data, converting data into information and information finally transformed into knowledge.
The steps in knowledge management:
KM is critical for global organizations. Managing knowledge requires capturing knowledge. While explicit knowledge can be captured well and managed well, capturing tacit knowledge from individuals is always challenging. KM will require an organization wide culture and belief about the significance of it and the value KM will bring to the organization. Knowledge management will use various automated tools and techniques for effective and efficient collection and management of information.
Well presented. This blog is easy to understand!
I appreciate you sharing this article about project cost control. This content will be bookmarked for sure.
Thank you very much! I love reading your blogs.
I have read this post. It's so nice and very informative! Thanks for sharing! Your website and blog are awesome!!!
Good info, thank you for this article!