Knowlegde Management - Essay Example

However, there are several universal theories, which have explained knowledge in two types, viz. explicit and implicit knowledge. Explicit knowledge is gained through understanding and implicit knowledge is gained through skills and expertise of an individual. Similarly, Knowledge Management (KM) can be determined as a significant aspect in relation to the creation and management of knowledge. In an organisational context, KM can be defined as the process of collecting, managing and sharing the knowledge of various employees in an organisation that may help it in improving its business activity along with creating more effectiveness in its overall functioning by building better coordination amid different divisions of the organisation (Bhojaraju, 2005).

Correspondingly, this paper intends to provide a brief explanation of knowledge and knowledge management highlighting the differentiation persisting between KM and Information Management (IM). The paper also describes the success factors required in measuring KM along with the aspects resulting in failure of KM within any organisational environment. In an organisational context, KM is regarded as a systematic approach of gathering, improving, sharing and using knowledge effectually with an expectation that it will help the organisation to innovate its business activity.

On the other hand, IM is referred to the process of gathering and managing information obtained from more than one source and distributing it to the employees of an organisation in order to ensure that the information being used by the organisation will result in improving and improvising the business process of an organisation. Therefore, through these elaborations it can be understood that there is a vast difference between KM and IM, wherein both these types of management is quite important for an organisation.

Correspondingly, it can be understood that the difference between KM and