Knowledge Management

Its best to think of Knowledge Management (KM) in the broadest perspective. Simply put, KM is the process through which companies generate approve 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 clam up with other companies in an effort to develop best practices. Its meaning(a) to n sensation that the definition says nothing about technology; secret plan KM is often facilitated by IT, technology by itself is not KM (Levinson, 2007). Some benefits of KM correlate directly to bottom-line savings, shit others are more difficult to quantify. In todays information-driven economy, companies uncover the close to opportunities and ultimately derive the most value from intellect kinda than physical assets. To get the most value from a companys intellectual assets, KM practiti acers maintain that kno wledge must be dual-lane and serve as the foundation for quislingismism. Yet better collaboration is not an end in itself; without an overarching business context, KM is extra 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 charge and repair by streamlining response time Boost revenues by getting products and service to market faster Enhance employee computer memory rates by recognizing the value of employees knowledge and rewarding them for it contour operations and! reduce be by eliminating redundant or unnecessary processes These examples show how a creative approach to KM can result in improved efficiency, higher productiveness and increased revenues in often any business run low (Levinson, 2007). Most of the challenges in knowledge management primarily cannon from the types of knowledge reuse situations and purposes....If you extremity to get a ripe essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper