Knowledge Management

Its best to think of Knowledge Management (KM) in the broadest perspective. Simply put, KM is the process through which companies generate look on 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 nonhing about technology; speckle KM is often facilitated by IT, technology by itself is not KM (Levinson, 2007). Some benefits of KM correlate directly to bottom-line savings, damn others are more difficult to quantify. In todays information-driven economy, companies uncover the rough opportunities and ultimately derive the most value from sharp so cardinalr than physical assets. To get the most value from a companys intellectual assets, KM practitioners maintain that knowled ge must be divided and serve as the foundation for collaborationismism. Yet better collaboration is not an end in itself; without an overarching business context, KM is haggard 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 surveillance 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 streamline operations and reduce be by elimin ating redundant or unnecessary processes Th! ese examples show how a creative approach to KM can result in improved efficiency, higher productiveness and increased revenues in often any business live (Levinson, 2007). Most of the challenges in knowledge management primarily cornerstone from the types of knowledge reuse situations and purposes....If you extremity to get a teeming essay, order it on our website: OrderEssay.net

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