What is knowledge management?
Knowledge management is the process of producing, sharing, using and managing an organization’s expertise and information. Its purpose is to improve the efficiency and knowledge of the organization so that others, including clients, can easily access it and contribute it.
A management system often refers to the technology, processes, training and learning materials used to organize knowledge and inform clients and staff members of new solutions, organization activities or problems.
Knowledge is a two-way street. Each staff member is both a source and a recipient of knowledge. Knowledge can be explicit, compiled in documents, or tacit, expressed via informal communication.
Knowledge creation is an ongoing process that maximizes collective knowledge within an organization by sharing, generating and examining valuable insights. The goal is to use knowledge to create value and a higher educational culture that encourages intuitive and practical learning.
Why investing in knowledge?
The most critical asset of your organization is what people know and have learned. Knowledge creates the value you need to deliver a better service or product and to become more relevant. Smart organizations today create a knowledge foundation that pays its dividends over and over again.