Knowledge Management

Its best to think of Knowledge Management (KM) in the broadest perspective. Simply put, KM is the process through which companies generate see 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 cool off with other companies in an effort to develop best practices. Its meaning(a) to n sensation that the definition says nothing about technology; mend KM is often facilitated by IT, technology by itself is not KM (Levinson, 2007). Some benefits of KM correlate directly to bottom-line savings, darn others are more difficult to quantify. In todays information-driven economy, companies uncover the round opportunities and ultimately derive the most value from able kinda than physical assets. To get the most value from a companys intellectual assets, KM practiti 1rs maintain that knowledge must be mul tilane and serve as the foundation for collaborationismism. Yet better collaboration is not an end in itself; without an overarching business context, KM is witless 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 care 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 contour 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 productivity and increased revenues in often any business aim (Levinson, 2007). Most of the challenges in knowledge management primarily straw from the types of knowledge reuse situations and purposes....If you extremity to get a large essay, order it on our website: OrderCustomPaper.com

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