Knowledge Management

Its best to think of Knowledge Management (KM) in the broadest perspective. Simply put, KM is the process through which companies generate honour from their noetic and association-based assets. Normally, generating protect from such assets involves classifying what employees, partners and customers know, and sharing that information among employees, departments and relieve with other companies in an effort to develop best practices. Its meaning(a) to n sensation that the definition says nothing about technology; dapple KM is often facilitated by IT, technology by itself is not KM (Levinson, 2007). Some benefits of KM correlate directly to bottom-line savings, temporary hookup others are more difficult to quantify. In todays information-driven economy, companies uncover the some opportunities and ultimately derive the most value from mind sort of than physical assets. To get the most value from a companys intellectual assets, KM practiti geniusrs maintain that k nowledge must be shared and serve as the foundation for quislingismism. Yet better collaboration is not an end in itself; without an overarching business context, KM is spare at best and harmful at worst.

Consequently, an effective KM program should help a company do one or more of the following: Foster innovation by encouraging the free flow of ideas Improve customer review and repair by streamlining response time Boost revenues by getting products and service to market faster Enhance employee safekeeping rates by recognizing the value of employees knowledge and rewarding the m for it streamline operations and r! educe be by eliminating redundant or unnecessary processes These examples show how a creative approach to KM can result in improved efficiency, higher productivity and increased revenues in often any business intent (Levinson, 2007). Most of the challenges in knowledge management primarily prow from the types of knowledge reuse situations and purposes....If you extremity to get a expert essay, order it on our website: OrderCustomPaper.com

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