Knowledge Management

Knowledge Management is the explicit and systematic management of vital knowledge - and its associated processes of creation, organization, diffusion, use and exploitation - in pursuit of business objectives.

Some Other Definitions are:

•   "Ensuring that workers can carry out their tasks effectively, by providing the right knowledge at the right place at the right time."

The Essentials of Knowledge management

•   Customer Knowledge - the most vital knowledge in most organizations
•   Knowledge in Processes - applying the best know-how while performing core tasks
•   Knowledge in Products (and Services) - smarter solutions, customized to users' needs
•   Knowledge in People - nurturing and harnessing brainpower, your most precious asset
•   Organizational Memory - drawing on lessons from the past or elsewhere in the organization
•   Knowledge in Relationships - deep personal knowledge that underpins successful collaboration
•   Knowledge Assets - measuring and managing your intellectual capital.

Why Important Knowledge Management ?

•   Facilitates decision making capabilities
•   Builds learning organizations by making learning routine
•   Stimulates cultural change and innovation

Importance of KM:

•   Knowledge and information transfer have become increasingly important to organizations everywhere
•   Knowledge is now recognized as a valuable intangible asset
•   The building of knowledge generation capabilities within the firm creates an organization with the flexibility to meet new challenges
•   Information and knowledge have become key drivers for competitive advantage – how can organizations harness these drivers for operational efficiencies and innovation?

Benefits of KM as individual, team, organization and society:

Benefits of KM – Individual:

•   Increase knowledge and skills of individuals – arising out of learning and innovation in the knowledge process
•   Positive attitudes, strong moral and ethical values – foundations of individual capability development
•   Individual capabilities collectively contribute to organizational capability and societal capacity

Benefits of KM – Team:

•   Increased knowledge and skills of individual members enhance the entire team’s capability
•   When members of a team are constantly learning and sharing knowledge with each other, the team capability is enhanced

Benefits of KM – Organization:

•   Organizational capability focuses on these aspects to achieve sustainable growth and competitive advantage:
  - Improving internal processes and systems
  - Developing core competencies
  - Designing innovative strategies
•   Organizational capability to create, reorganize, disseminate widely, and embody knowledge in new products and services is critical when faced with
  - Shifting markets
  - Rapid product obsolescence
  - Hyper-competition
  - Financial upheavals

Benefits of KM - Society:

•   Societal capacity = Collective knowledge of individuals + Organizations (that can be harnessed for inclusive growth)
•   Networking and collaboration can stimulate the creative potential of individuals and organizations to seize the enormous opportunities in society for growth and development
•   Enhanced public and private sector collaboration raises KM awareness and heightens the positive effects of knowledge and technology across all sectors of society.

More about Knowledge management you may click the Following Links:
  http://www.dlsu.edu.ph/conferences/etfp/papers/sison.pdf
  http://www.dkms.com/papers/kmbasic.pdf
  http://www.kmworld.com/Articles/Editorial/What-Is-.../What-is-KM-Knowledge-Management-Explained-82405.aspx
  https://en.wikipedia.org/wiki/Knowledge_management
  http://www.knowledge-management-tools.net/
  http://www.apo-tokyo.org/00e-books/IS-43_KM-Tools_and_Techniques_2010/IS-43_KM-Tools_and_Techniques_2010.pdf
  http://www.apo-tokyo.org/00e-books/IS-30_KnowledgeMgtAsia.htm
  http://www.apo-tokyo.org/00e-books/IS-39_APO-KM-FG.htm
  http://ijcsi.org/papers/IJCSI-10-2-3-25-32.pdf