Knowledge management is a key component in the information age for businesses to assess their intellectual capital, and they turn really innovate and compete with competitors. Knowledge Management (KM) comprises a range of practices used in an organization to identify, create, represent, distribute and enable adoption of insights and experiences. Knowledge Management is the process of capturing, organizing, and storing information and experiences of workers and groups within an organization and making it available to others. More specifically, the way a company stores, organizes and accesses internal and external information is called knowledge management.
What is Knowledge Management?
Knowledge management is the process that companies use to measure the value of intellectual worth of each employee in the company. In addition, it is a process that is used to evaluate and track key metrics related to intellectual assets the organization can use to create better services, products, and value to the shareholders of the corporation.
The tools used to manage information and knowledge vary between organizations, but more and more organizations are hiring knowledge managers to manage the process for the business stakeholders. These managers leverage knowledge management systems that track, store, and index these information assets for reference by business managers and employees. A simple example of this is perhaps a business manager is looking for a specific product development skill set. This manager may refer to the knowledge management system and research what employees might be a good fit or those that have worked on similar products. This allows companies to leverage internal resources quickly and helps spur the innovation and product development by finding the right resources, with the right skill for the job at hand.
Knowledge management (KM) is an emerging, interdisciplinary business model dealing with all aspects of knowledge within the context of the firm, including knowledge creation, codification, and sharing, and using these activities to promote learning and innovation. It encompasses both technological tools and organizational routines of which there are a number of components. These include generating new knowledge; acquiring valuable knowledge from outside sources; using this knowledge in decision making; embedding knowledge in processes, products, and/or services; coding information into documents, databases, and software; facilitating knowledge growth; transferring knowledge to other parts of the organization; and measuring the value of knowledge assets and/or the impact of knowledge management.
How does knowledge management benefit new employees?
Article ID: 63
Created: Wed, Nov 25, 2009
Last Updated: Thu, Oct 10, 2013
Author: Administrator
Online URL: https://www.articlediary.com/article/knowledge-management-what-is-a-knowledge-management-software-63.html