In the business world, knowledge management (KM) emerged in the mid-1990’s as a key element of process improvement, value creation, and thus overall performance.
A definition of KM: Academics and practitioners alike have written a lot about KM, especially over the past two decades. Most start with defining knowledge itself, often discussing the difference between explicit and tacit knowledge or distinguishing between data, information, and knowledge. Others also present a typology of the means organizations use to create value through knowledge. Few characterizations of KM, however, avoid using the words “knowledge” and “management.” The following definition avoids that tautology and synthesizes common elements found throughout the field:
Knowledge management is a formal approach to acquiring, creating, codifying, storing, sharing and using contextualized information, expertise and other intellectual assets to support achieving an objective.
Together, the processes, activities, practices, organizational arrangements and values associated with this approach make up the KM strategy of an organization. Note that this definition requires a deliberate … Read the rest