Marketing Services & Risk Matrix Consulting

Archive for the ‘Knowledge Management’ Category

Knowledge management

Knowledge management is an upcoming field of management, which focuses on maximizing business performance by making the most of the synergy between people, processes and technology.

It deals with issues critical to organizational adaptation, endurance and expertise in the wake of progressively more sporadic changes in the environment. In effect, it stands for organizational processes that engage a synergistic combination of data, information technology and the creativity of people. In other words, the knowledge aspect of business should be considered critical to it and should reflect in strategy, policy and practice the overall functioning of the organization.

Moreover, knowledge management is all about establishing the link between an organization’s obvious and implied intellectual property and positive business outcome.

In practice, however, it involves an organization recognizing and mapping its intellectual assets, creating knowledge for competitive advantage, making large amounts of business information available, and allocating the best practices and technology that facilitates all of the above, including groupware and intranet.

Knowledge management is not easy to define precisely or simply. It is a complex domain, like management itself. However, there are noteworthy connections between knowledge management and many popular management practices and strategies, including best practices, change management, benchmarking and risk management, to mention a few.