KNOWLEDGE MANAGEMENT

Information & Knowledge Management



Table of Contents

Knowledge Management1

Information Management1

Why do Information and Knowledge Management?2

Sorting Corporate knowledge2

Explicit Knowledge2

Tacit Knowledge3

Strategic Knowledge3

Knowledge Management Process3

Knowledge Discovery3

Combination and Socialization4

Socialization4

Knowledge Capture4

Externalization5

Internalization5

Process of Sharing5

Socialization5

Exchange6

Application6

Routines6

Knowledge Management Systems6

Summary and Future of Knowledge Management7

References8

Information & Knowledge Management

Knowledge Management

The definition of knowledge can be defined in several ways, often these statements are quite confusing. There may be different perspectives depending on the difference of problems that are to be solved. We need to understand the purpose we need to serve through knowledge management. Knowledge management is about systems and technologies; related to the people and organizational learning. It consists of several processes, methods and techniques. Managing the knowledge assets of a firm is referred to be the holistic initiative across the entire organization. The most important part on our end is to have our own definition of knowledge management. What is knowledge management to our organization? Throughout the organization a shared and common understanding of the knowledge management should be spread. Hence, the best definition of Knowledge Management is suggested by GlaxoSmithKline is:

“The capabilities by which communities within an organization capture the knowledge that is critical to them."(Scholl, 2005)

Information Management

Information can be defined as the well processed data, understandable and within the context that gives it meaning and relevance. Information management is the management of information from a number of sources to a number of recipients in an easy and effective way. This process of spreading the knowledge may involve the stake holders of the information or people who have rights to access that information. In other words, information management can be defined as the organization of having control over the structure, processing and delivery of information. It is the ability of an organization to acquire process, manage, preserve and store the correct information to the right people at the right time in the most efficient yet effective way possible (Anonymous, 2011).

Why do Information and Knowledge Management?

Knowledge management is getting much importance in today's world. There are serious benefits that can be achieved through knowledge management for an individual, the whole organization or may be the whole planet earth (Chang-Arbiters, et.al, 2005).

In today's competitive world, being an effective performer in the global knowledge economy and becoming knowledge driven organization is a necessity. Knowledge management is playing a key role in today's world and times to come, because it is just like the case studies that we solve in our literary studies. Once you have knowledge of the past only then you can have a better understanding of future to come. It is the key driver of new knowledge and new ideas to innovations. Predictions, forecasts, guesses, calculations or prophecies all depends upon the knowledge a person owns. The purpose for achieving a compatible place in the knowledge managed environment must not be just to become knowledgeable, but to be able to apply knowledge to achieve objectives efficiently.

Effective knowledge management can make a noticeable difference in the cutting the cost. Cutting the costs eventually helps the firm to ...