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What is Knowledge Management?
Knowledge Management (KM) represents an organised approach to capturing, structuring, sharing, and effectively using an organisation’s collective knowledge. It ensures that information, expertise, and insights flow efficiently across teams and processes.
Definition
Knowledge Management is the systematic process of identifying, collecting, organising, and leveraging knowledge to improve performance and decision‑making.
Key Takeaways
- KM improves how organisations create, store, and use knowledge.
- It enhances collaboration, efficiency, and innovation.
- KM reduces knowledge loss caused by turnover or siloed teams.
Understanding Knowledge Management
Knowledge Management emerged as a discipline to address the challenge of lost information, duplicated effort, and fragmented organisational expertise. It focuses on making knowledge accessible—whether through documents, databases, processes, or shared experiences.
KM includes both explicit knowledge (documented information) and tacit knowledge (experiential know‑how). Effective KM frameworks integrate people, processes, and technology to promote continuous learning.
Technologies supporting KM include intranets, knowledge bases, collaboration platforms, and AI‑driven systems that automate tagging, retrieval, and recommendation of information.
Formula (If Applicable)
KM does not follow a traditional formula but often uses the SECI Model (Nonaka & Takeuchi):
- Socialisation: Sharing tacit knowledge.
- Externalisation: Converting tacit to explicit knowledge.
- Combination: Organising and integrating explicit knowledge.
- Internalisation: Applying knowledge to create new tacit knowledge.
Real-World Example
Large consulting firms use KM platforms to store case studies, best practices, and methodologies, enabling consultants worldwide to access critical insights.
Hospitals use KM to capture medical expertise, helping improve diagnosis accuracy and treatment consistency.
Importance in Business or Economics
KM strengthens organisational memory, accelerates onboarding, improves customer service, and enables innovation. In a knowledge‑driven economy, KM becomes a strategic asset that directly enhances competitiveness.
Organisations with strong KM systems are more resilient to workforce turnover and can scale learning more effectively.
Types or Variations
- Tacit Knowledge Management: Capturing and sharing experiential knowledge.
- Explicit Knowledge Management: Organising documented information.
- Embedded Knowledge Systems: Knowledge built into processes or technologies.
Related Terms
- Knowledge Transfer
- Knowledge Base System
- Organisational Learning
- Information Management
Sources and Further Reading
- https://www.apqc.org/knowledge-management
- https://hbr.org/1998/11/the-knowing-organization
- https://www.knowledge-management-tools.net/
Quick Reference
- Core Idea: Optimise how knowledge is created and used.
- Primary Tools: Knowledge bases, intranets, collaboration systems.
- Impact: Higher efficiency, reduced information loss.
Frequently Asked Questions (FAQs)
Why is Knowledge Management important?
It ensures critical expertise and information remain accessible and usable.
Is KM only about technology?
No, KM depends equally on people and processes.
What challenges affect KM?
Siloed teams, unclear ownership, and outdated systems.
