Knowledge Management

Till date there is no established definition of knowledge management. The nearest acceptable definition of KM is that it is “the development of tools, processes, systems, structures and cultures explicitly to improve the creation, sharing, and user of knowledge critical for decision-making. “ Knowledge management (KM) is concerned with both tangible knowledge assets and intangible knowledge or intelligence possessed by employees and stakeholders. Not only is acquiring and storing data important, but the real key to effective KM is sharing and leveraging information and knowledge. The same can be said of human/intellectual capital. No longer just dependent on financial capital or capital equipment, today’s organization need human capital (employee experience, skills and ideas/ creativity) to be used and leveraged for competitive advantage.

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