What Is Knowledge Management Essay

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What is Knowledge Management? Introduction* Generally, knowledge is interpreted, subjective information within a context, which involves understanding and is mostly tacit, not explicit. Knowledge can take many forms. It can be in the form of thoughts, insights, ideas, lore, lessons learnt, practices, and experiences undergone to name just a few. The term knowledge management has become common in businesses throughout the world. Despite its increased prevalence, there remains a large degree of confusion concerning the applied definition of what knowledge management is. Within the knowledge management community, attempts at defining this elusive term appear to be in constant flux. However, a basic description of what constitutes…show more content…
CoPs differ from teams in that they are driven by a common interest, whereas a team is driven by a common purpose or business objective. This distinction is important, as we wish to encourage sharing between teams, not just within them, and CoPs represent a much wider community. This phase is community-driven and dominated by experiments in knowledge capture, sharing and application within and between different CoPs. Consolidate knowledge for use: as more CoPs form and share their knowledge, information overload and relevance of knowledge become issues. This phase is dominated by the need to impose structure and standards on the core knowledge bases, and to ensure adequate management of the Web, or any other means of linking and accessing the growing knowledge stores. The organisation discovers the need to balance freedom of expression and business focus. Creativity and learning: this is when managing knowledge becomes a standard business practice, and is characterised by significant cultural change. The pace of learning quickens, solutions improve and the speed of innovation increases as we work in new ways. Why is Knowledge Management Necessary? While there are many reasons for pursuing KM, three main objectives stand out: 1. to capture and transfer internal knowledge and best practices; 2. to increase employee capabilities; and 3. to
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