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The purpose of the essay is to discuss about knowledge management theory, practice, major concepts and practical applications. This essay synthesizes basic concepts and ideas as well as some of the leading thoughts pertaining to knowledge management. It also highlights the necessity of knowledge management, the techniques and practices of implementing knowledge management solution in an organization. Finally, the essay discussed two business organizations that are being well served by knowledge management.
What is Knowledge Management?
There is no universal definition of knowledge management (KM), just as theres no agreement as to what constitutes knowledge. ... KM is the process through which organizations generate value from their intellectual and knowledge-based assets. ... The goal of KM is to simultaneously manage data, information, and explicit knowledge while leveraging what people know (tacit knowledge) through a combination of technology and management practices (Emery, 1999).
Knowledge and differences between Knowledge and Information
Although there is a great deal of overlap between knowledge and information, knowledge is considered as a finished product and information and data are considered as raw materials. Tacit and explicit are two categories of knowledge. Tacit knowledge comes from an individual’s personal experiences and is affected by their beliefs, values and perspectives. This knowledge is not visible or documented and requires more personal and direct communication (Giannetto & Wheeler, 2000). Tacit knowledge is extremely hard to transfer. Accessing tacit knowledge is one of the goals of KM. Explicit knowledge can be described, documented and shared amongst individuals. Explicit knowledge may be indirectly communicated between people in the form of text, video, sound, software, and so on (Giannetto & Wheeler, 2000). KM can manage explicit knowledge and information. Tacit knowledge cannot be managed, but a strategy (KM) can be put in place so that people can get together and share the knowledge that they have (Emery, 1999). ... Current information management technology is knowledge-enabling and playing a strong role in managing explicit knowledge. The primary purpose of technology’s ability to capture and manage explicit knowledge is to assist transfer of knowledge from person to person. “……companies are investing in technology thinking that they will create knowledge – that’s wrong. What you can have is an information management system that enables knowledge creation in various parts of an organization.
Approximate Word count = 1873
Approximate Pages = 7.5
(250 words per page double spaced)
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