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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.
The knowledge-based theory of the firm, or knowledge-based view (KBV), considers knowledge as an essentially important, scarce, and valuable resource in a firm. [1] [2] According to the knowledge-based theory of the firm, the possession of knowledge-based resources, known as intellectual capital, is essential in dynamic business environments. [3]
Before starting to use knowledge management as a theoretical frame there was only know-how about thinking with knowledge. The most important key factor of knowledge management is recognizing tacit and explicit knowledge. [6] Open communication between leadership and membership [7] consists of being able to demonstrate face-to-face dialogue ...
Utilizing knowledge transfer and retention concepts to recognize, maintain, and reclaim embedded knowledge can help organizations become more efficient with their knowledge. Organizational learning theories and knowledge management practices can be applied to organizational design and leadership decisions.
Knowledge organizations also have collective intelligence. 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 ...
The creative use of computerized communication networks and large-scale databases can support this mode of knowledge conversion: explicit knowledge is collected from inside or outside the organization and then combined, edited, or processed to form new knowledge. The new explicit knowledge is then disseminated among the members of the organization.
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Personal knowledge management can also be viewed along two main dimensions, personal knowledge and personal management . Zhang has developed a model of PKM in relation to organizational knowledge management (OKM) that considers two axes of knowledge properties and management perspectives, either organizational or personal.