Knowledge Management

While Knowledge Management (KM) is important in any business however, there is no real agreed upon definition. KM is a concept that includes the

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.

The concept of Knowledge Management (KM) had introduced since 1990 (Koenig, 2012). The most quote definition about KM is Davenport (1994)’s definition, “Knowledge management is the process of capturing, distributing and effectively using knowledge”. More specifically, Duhon (1998) defined KM as “a discipline that promotes an integrated approach to identifying, capturing, evaluating, retrieving, and sharing all of an enterprise’s information assets. These assets may include databases, documents, policies, procedures, and previously un-captured expertise and experience in individual workers.”

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 (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.

Knowledge Management (KM) is a strategic method of locating, defining, collecting, storing, sharing, organising, receiving and adopting valuable information and knowledge within an

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

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.

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”?

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.

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 research has shown that use of knowledge management can help in understanding the performance in the organizations and (Davenport and Prusak, 1998). Other more recent studies like done by Fugate et al. (2008) and Huang and Chen (2009) also have talked on the importance of knowledge management systems and their positive effect on organizational performance.

Abstract - knowledge management is a discipline that seeks to improve the performance of individuals and organizations by maintaining and influencing the present and future value of knowledge resources. It is an amalgamation of plentiful endeavors and fields of study. This paper provides a framework for distinguishing the various tools like methods, practices and technologies available to knowledge management practitioners. It includes a summary of a number of key terms and concepts, illustrates the framework, imparting examples of how to use it and searching a variety of prospective areas.

Learning and knowledge management is rising as a key factor to handle change and developing competitive advantage.

"Knowledge management is the set of practices aimed at discovering and harnessing an organization 's intellectual resources. It 's about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization: people 's expertise, skills, wisdom, and relationships. Knowledge managers find these human assets, help people collaborate and learn, help people generate new ideas, and harness those ideas into successful innovations" (Bateman, 2004, p.8-9). One of the most important factors of change in management is the growing need for good, new ideas. Knowledge management is an approach that allows people to produce change. It 's bringing people together and collecting ideas from