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Contemporary Issues: Knowledge Management - Essay Example

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This essay aims at analysing the aspect of Knowledge Management as a significant strategic and contemporary issue in the current business environment. This is done by collecting data and evidence from reliable and valid secondary data sources and by studying the benefits…
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Contemporary Issues: Knowledge Management
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Download file to see previous pages From this paper it is clear that knowledge management is a process of collecting, developing, managing, sharing and using information and knowledge within an organization. It is a multi-dimensional approach which is employed by organizations across the globe with the aim of achieving the key corporate and organizational goals through the optimal use of the knowledge available within an organization. Today, knowledge management is used across diverse fields including computer science, information and media, public health, business administration and public policy. The concept of knowledge management focuses on the achievement of varied organizational objectives such as competitive advantage creation, improved performances, innovation, continuous improvement and integration of the different units of an organization, all of which are developed on the basis of the encouragement of sharing and creating knowledge. 
This study outlines that knowledge can be defined as the data and information that is available in context with the understanding of applying the available knowledge. Knowledge as a component is subjective in nature because it is built on the basis of values, beliefs, emotions and intuitions of an individual as well as the experiences of the individual. Knowledge management is the process through which the organizations are able to use various types of information and knowledge like tacit knowledge, explicit knowledge, systemic knowledge and implicit knowledge for the benefit of the enterprise. ...Download file to see next pagesRead More
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