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Knowledge management (KM) is the set of procedures for producing, disseminating, utilizing, and overseeing an organization's knowledge and data.It alludes to a multidisciplinary strategy that maximizes knowledge utilization to accomplish organizational goals.
It is recommended that companies take into account matters related to the company management (i.e. employees, processes, equipment) if their decision making is based on knowledge. It is also important to identify and update the critical knowledge of the company and continuous conduct the critical knowledge area analyses.
Liautaut (2001) [9] points out that in the knowledge economy, being an intelligent business is not only a prerequisite to winning, but even to compete in the first place. In a fluid, fast-paced knowledge market, companies that can find and exploit the slightest advantage for faster, better decision making will dominate.
Knowledge management systems are technologies that serve as a repository, communication, or collaboration tool for transferring and retaining knowledge. [4] Embedding knowledge in technology can prevent organizational forgetting [91] and allow knowledge to transfer across barriers such as distance, organizational unit, and specialization ...
A subset of information management software that emphasizes an approach to build knowledge out of information that is managed or contained is often called knowledge management software. KM software in most cases provides a means for individuals, small groups or mid-sized businesses to innovate, build new knowledge in the group, and/or improve ...
Knowledge creation is the consequence of individuals' minds, interactions, and activities. Developing new ideas and arrangements alludes to the process of knowledge creation. Using the knowledge which is present at the company in the most effective manner stands for the implementation of knowledge. Knowledge sharing, the most essential part of ...