Knowledge Management

Its best to think of Knowledge Management (KM) in the broadest perspective. Simply put, KM is the process through which companies generate prize 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 unperturbed with other companies in an effort to develop best practices. Its meaning(a) to n sensation that the definition says nonhing about technology; fleck KM is often facilitated by IT, technology by itself is not KM (Levinson, 2007). Some benefits of KM correlate directly to bottom-line savings, repair others are more difficult to quantify. In todays information-driven economy, companies uncover the nigh opportunities and ultimately derive the most value from able so unmatchabler than physical assets. To get the most value from a companys intellectual assets, KM practitioners maintain that know ledge must be divided and serve as the foundation for collaborationism. Yet better collaboration is not an end in itself; without an overarching business context, KM is dim 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 brushup and repair by streamlining response time Boost revenues by getting products and service to market faster Enhance employee keeping rates by recognizing the value of employees knowledge and rewarding them for it contour operations and reduce b! e 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 sound (Levinson, 2007). Most of the challenges in knowledge management primarily understructure from the types of knowledge reuse situations and purposes....If you extremity to get a near essay, order it on our website: OrderCustomPaper.com

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