The Importance Of Knowledge Management

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Why do we need to manage knowledge? The important elements that are driving the need for knowledge management are organisational survival, competitive differentiation, globalisation effects and developing workforce. Taken into action the management dynamics today, the responsibility of managing knowledge requires great amount of focus as most of the work is significant based. Knowledge management is also important because early retirements and increasing flexibility of workforce lead to loss of knowledge while changes in strategic direction may result in the loss of knowledge in some certain areas. According to Davenport and Probst (2001) the essence of knowledge management (KM) is synergy. Two plus two can equal five or six or seven. The…show more content…
The result showed that knowledge management have significant and direct effects on manufacturing performance. Knowledge management can also be referred to a range of practices and methods used by organisation to determine, represent and distribute knowledge, intellectual capital and other forms of knowledge advantage and learning across the organisation. It suffices crucial issues on organisation adaptation, survival and competence threatened by unpredicted environmental change (Sunil Kumar Agrawal, 2013). Knowledge management support organisation in creating, assimilating and applying its knowledge. The key to knowledge management is capturing intellectual assets for the tangible benefits for the organisation. Imperatives knowledge management…show more content…
The culture of an organisation is seen in the pattern of expected behaviour, rituals and symbols used by its employees, and it emerges over a period of time ( Mathis and Jackson, 2010). When one treats knowledge management in terms of consent, it gives the reaction that there is a top down, tiered division of labor, under which only some pare of the organisation is responsible for learning and another part is responsible for providing information for accumulating and generating knowledge. However, a successful knowledge management depends on every individual accepting their role as a knowledge citizen, whose value proposition to the organisation is the extent to which he/she is committed in the entire knowledge circle. This is definitely not an internal and consent-driven procedure, but requires an open and external perspective that builds on soft motivation such as mentally beneficial peer support, rebuttal, career development and individual professional learning in the public domain of the development sector (UNDP,
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