Knowledge Management (KM) is the process of generating, accumulating, sharing and using knowledge for improving organisational performance. It is creation of new skills, capabilities, competencies and sharing the use of this knowledge by organisational members.
Knowledge management (KM) is a systematic approach to capturing, sharing, and utilizing knowledge within an organization. KM involves creating processes and systems for identifying, capturing, organizing, and storing knowledge, as well as ensuring that this knowledge is effectively shared and utilized across the organization.
The goal of KM is to improve an organization's performance by leveraging the collective knowledge and expertise of its employees and stakeholders. This may involve creating knowledge repositories, implementing knowledge-sharing platforms or social networks, or providing training and development programs to promote knowledge sharing and collaboration.
KM can be categorized into two main types: explicit and tacit knowledge management. Explicit knowledge management involves the capture and sharing of knowledge that can be easily articulated, codified, and stored, such as documents, manuals, or databases. Tacit knowledge management, on the other hand, involves the sharing of knowledge that is more difficult to articulate or capture, such as experience, intuition, or insight.
The benefits of KM can be significant, including improved decision-making, increased innovation, and enhanced organizational learning. By effectively managing its knowledge assets, an organization can become more efficient, effective, and competitive in its industry.