Knowledge management was defined as the turning of information into actionable knowledge which can be accessed by people who can apply it. Robbins (2003) gives a time perspective in his definition of knowledge management. He mentions as part of knowledge management the distribution of the right information to the right people at the right time. Lytras et al (2002) gives a definition of knowledge management which emphasises the purpose of knowledge management. In the definition creation of new capabilities, enablement for superior performance, encouraging innovation and enhancement of customer value were mentioned. For the purpose of this study the researcher summarised knowledge management as the intentional process of coordinating people, technology and systems to optimise creation and sharing of intellectual
The superior capabilities of knowledge management systems provide an opportunity for the business to engage the most effective components and recognize the importance of communication to make informed, accurate decisions (McGrath, 2001). This system can organize the company’s knowledge resources, knowledge obtaining, organizing, and applying to make a sound routine the will enforce effectiveness (Niu, 2008). The dynamic function of knowledge management to create, capture, and apply knowledge to achieve an organization’s objective will allow them to be more profitable and successful (Zucker, 1986). In addition to increasing profits, the system can be also used to reduce costs and enhance research and development (DeTienne & Jackson, 2001). With all of these advantages, it would be wasteful for a company to not employ knowledge management. As seen in the Discovery Communications, Inc. example, the company can attribute their new productivity levels and increase in ease of securing documents to the knowledge management system that put into place by Carefree Technology. Like Discovery Communications, Inc., knowledge management is so popular today because companies can collect, process and share knowledge to ignite employees ' creativity which in turn will make the business grow. Wenhong and Jianhua (2009) explained the core of knowledge management is to convert company’s knowledge resources into an increased company
While Knowledge Management (KM) is important in any business however, there is no real agreed upon definition. KM is a concept that includes the
This chapter describes what is knowledge management in details as well as what is the factors of implementing knowledge management which are implementing best practices, network expansion, systematic information system infrastructure, good organizational culture, senior management leadership and commitment and trustworthiness of teamwork.
Organisational learning can be seen as the goal of knowledge management and may be obtained by good knowledge management strategies and processes. By motivating the creation, dissemination and application of knowledge, KM initiatives pay off by helping the organization embed knowledge into organisational processes so that it can continuously improve its practices and behaviours and pursue the achievement of its goals.
Knowledge management often involves isolating and planning intellectual assets within an organization, producing new knowledge for competitive advantages within the organization, making vast amounts of corporate information accessible. Knowledge management can be hard to interpret or explain. How would a nurse or doctor define “health care” succinctly? How would a CEO explain “management”? Each of these areas is very complex, with many sub-areas of specialization. This in turn leads to the question “What is Knowledge Management Strategy & Metrics”?
Knowledge management is defined by Sallis and Jones (2002), as “a systemic method for managing individual, group and organisational knowledge using the appropriate means and technology”. In short, it involves various fields of expertise in achieving organisational objectives by making the best use of knowledge at the same time.
The growing stream of articles on and consulting approaches to knowledge management practice today reveals a wide range of recommended processes and techniques. Unfortunately -- especially for managers looking for insights to guide knowledge management practices -- many of these recommendations often seem disconnected from each other, and in the worst cases, various recommended approaches even seem to be
Knowledge is a valuable thing – something we hear all of the time. As Albert Einstein says “the only source of knowledge is experience.” As employees gain experience they gain knowledge, making it a very valuable commodity. In many companies it can be an upwards of one million dollars invested in employees.
Chapter 12 highlights the different reasons for managing knowledge that include the need to respond accurately to globalization as well as rapid change, the need to manage communication and information overload, organizational downsizing, leveraging knowledge in order to gain competitive advantage as well as controlling knowledge embedded within different products in an organization. The author also elaborates how knowledge management can be viewed as a dynamic process, which involves the transfer, capturing, generation, and codification of knowledge. The chapter also asserts that business intelligence utilizes technologies and data to understand business performance.
Knowledge management can be very essential to people in leadership positions that is required to make executive decisions on behalf of a company or organization. However, it is necessary for individuals holding such position to have a thorough understanding of the knowledge management process. Therefore, this paper discusses the best practices for creating and implementing a knowledge management project and discuss measurements, metrics and potential resources for data exists and how each are incorporated into the design of a system.
A knowledge is defined as a valuable intangible resource that need to be managed properly in order for an organization to gain advantage over their competitors, Birkinshaw and Sheehan (2002); Zyngier (2006). Knowledge transfer emphasized as “the movement of knowledge within the organization, it is a distinct experience not a gradual process of dissemination, and depends on the characteristics of everyone involve”, Szulanski (1996).
The new "buzz word" in many corporate circles currently is the term "Knowledge Management or K.M." KM is considered mostly a role for the Information Technologist because of its storage of the company's information on databases. Because of the "info-glut" that is occurring in many corporations, K.M. is strongly becoming the role for the Instructional Technologist to group that information into training modules for the corporate Intranet, so that the corporation's employees can retrieve the "knowledge" in a real-time, need-to-know basis. In this white paper, I will define Knowledge Management from a business and an educational perspective. I will also discuss two basic strategies
Knowledge management is set of practices aimed at discovering and harnessing an organization 's intellectual resources-fully use the intellects of the organization 's people. Knowledge management is about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization: people 's expertise, skills, wisdom, and relationships (Bateman, 2009). Knowledge management allows more employees to be involved in the decision making process of the company. In the roofing and sheet metal industry knowledge management is very important in the success of the organization.