Knowledge Management (KM) refers to a range of practices and techniques used by organizations to identify, represent and distribute knowledge, know-how, expertise, intellectual capital and other forms of knowledge for leverage, reuse and transfer of knowledge and learning across the organization. It suffices crucial issues on organizational adaptation, survival, and competence threatened by unpredictable environmental change.
Generally, it represents the organizational processes that aim synchronous coalition of data and information processing capacity of information technologies, and the ingenious capacity of human beings.
In simpler terms, knowledge management strives to make the most out of the knowledge that is available to an organization, generating understanding, incrementing awareness and knowledge in the process.
Knowledge management is an evolving discipline. While knowledge transfer (an aspect of KM) has always existed in one form or another, formally through apprenticeship, the maintenance of corporate libraries, professional training and mentoring programs, and — since the late twentieth century — technologically through knowledge bases, expert systems, and other knowledge repositories,
KM programs claim to consciously evaluate and manage the process of accumulation, creation and application of knowledge which is also referred to by some as intellectual capital. KM has therefore attempted to bring under one rubric various strands of thought and practice relating to intellectual capital in the economy; the idea of the learning organization; various enabling organizational practices; and various enabling technologies.
Knowledge management may be viewed from different perspectives. Techno-centric view focuses on technologies, ideally those that enhance knowledge sharing & growth, frequently any technology that does fancy stuff with information. Theoretical view concentrates on the underlying concepts of knowledge and truth. People view engages on bringing people together and helping them exchange knowledge. Process view endeavors on the processes of knowledge creation, transmission, transformation, and others.
Organizational, ponders on ‘How does the organization need to be designed to facilitate knowledge processes?' and ‘Which organizations work best with what processes?' And ecological contemplates the interaction of people, identity, knowledge and environmental factors as a complex adaptive system
In addition, as the discipline is maturing we see an increasing presence of academic debates within epistemology emerging in both the theory and practice of knowledge management.
KM professionals may use a specific lexicon (tool to enhance knowledge in vocabulary) in order to articulate and discuss the various issues arising in knowledge management.
Knowledge Management programs are typically claimed to be tied to specific organizational objectives and are intended to lead to the achievement of specific targeted results such as improved performance, competitive advantage, or higher levels of innovation.
Organizations should undertake knowledge management programs. In doing so, they would gain competitive advantage that comes with improved or faster learning and new knowledge creation. KM programs may lead to greater innovation, better customer experiences, consistency in good practices and knowledge access across a global organization, as well as many other benefits.
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