WHAT IS KNOWLEDGE MANAGEMENT?

Now days, knowledge management is the buzzword in the corporate world. Companies proudly talk of it. Is it related to management of knowledge or something else? Let us find out what is all about knowledge management.

According to Andersen Consulting, knowledge management (KM) is the systematic process of acquiring, creating, capturing, synthesizing, learning and using information, insights and experiences to enable performance. It converts ideas into realities. It helps in promoting the learning curve of their employees and retaining the same for the overall prosperity and progress of the organization.

KM is interwoven with information dissemination and information action. It is linked with talent management. Constant creativity and innovation are the pillars for knowledge management. Now days, the companies, in order to stay ahead of their counterparts competitively, they are focusing on managing and expanding their knowledge capital base. It adds value to their organizations. However, very few companies hoard their knowledge and don’t believe in sharing due to the fear of their employees poached by competitors. In such a scenario the company may not encourage their employees to grow intellectually thus resulting into stagnation.

KM promotes, furthers, nurtures knowledge in the organization and ensures that the knowledge is managed with in the company even in the event of the exit of the employees. KM highlights on collective knowledge of the enterprise through collaborative teamwork, knowledge sharing and mentoring.

The companies should provide conducive organizational culture and climate to ensure that knowledge is managed effectively and efficiently. Employees should equally and actively involve in the successful sharing of knowledge. At times because of competition a few employees especially star performers with in the organizations do not share their knowledge and retain with themselves thereby denying opportunities for other to share.

It is to be appreciated that knowledge sharing is widely honoured while the knowledge hoarding is highly dishonoured. The companies should wed knowledge management wholeheartedly not only for their survival and success but also for the all round development of their precious human resources-employees. It is rightly said that knowledge grows when shared.

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