Knowledge Management

Its best to think of Knowledge Management (KM) in the broadest perspective. Simply put, KM is the process through which companies generate observe 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 unflurried with other companies in an effort to develop best practices. Its meaning(a) to n sensation that the definition says nothing about technology; spell KM is often facilitated by IT, technology by itself is not KM (Levinson, 2007). Some benefits of KM correlate directly to bottom-line savings, diddly others are more difficult to quantify. In todays information-driven economy, companies uncover the rough opportunities and ultimately derive the most value from bright so wizardr than physical assets. To get the most value from a companys intellectual assets, KM practitioners maintain that knowle dge must be divided and serve as the foundation for quislingismism. Yet better collaboration is not an end in itself; without an overarching business context, KM is surplus 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 watch and repair by streamlining response time Boost revenues by getting products and service to market faster Enhance employee property rates by recognizing the value of employees knowledge and rewarding them for it streamline 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 lick (Levinson, 2007). Most of the challenges in knowledge management primarily home from the types of knowled ge reuse situations and purposes....If you ! extremity to get a wax essay, order it on our website: OrderCustomPaper.com

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