Why Knowledge Management Is An Opportunity For Businesses?

In a globalized, increasingly competitive and evolving world, companies must be able to take advantage of all the factors. Adapting to the changing environment is not enough: change needs to be transformed into growth opportunities. How?

In order to stimulate the company’s competitiveness, therefore, “knowledge management” is of great importance, i.e. all knowledge, consisting of explicit knowledge (those of manuals, easily transferable) and tacit knowledge (linked to the possessor and the context, the result of experience, communicable), which must be shared by all persons belonging to the company.

This is where Knowledge Management, a set of methods and software tools that help identify and capitalize on business knowledge to organize and disseminate them.

Karl Wiig coined the term KM in 1986 at a conference organized by the International Workers Organization of the United Nations in which he introduced the principles of his theory.

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According to its definition

Knowledge management is explicit, deliberate systematic building, renewal and systematic application of knowledge to maximize the effectiveness of knowledge of an enterprise and the performance of its cognitive heritage.

Knowledge plays a central role for companies, an intangible source of value that can create a competitive advantage.

KM’s goal is to build a widespread knowledge: to make information accessible to all employees to improve efficiency and work efficiency. It is above all practical knowledge (expertise, individual experiences, skills, and special skills) that must become part of a company’s information asset.

As Einstein said …

“Knowledge is experience. The rest is just information.”

Not merely the attention to data and information, but above all to the tacit knowledge that must be codified and shared. This can be done by observing the work of a master who transmits his knowledge to apprentices as he did in the middle ages. It is necessary to create a collaborative working environment for knowledge to spread.

The focus is thus on human resources: they are workers who have knowledge and knowledge whose disclosure and sharing is the goal of knowledge management.

To achieve this, many companies have begun using Information Technology to share and transfer information. In particular, technology must support three processes …

  • The search for data and information to enable people to do their best job by increasing their efficiency
  • The collection and management of information
  • The collaboration of people to carry out projects and develop knowledge

With the use of dedicated platforms, social software and web 2.0 tools, knowledge management is increasingly participatory. At the base however, there must be the will of people to consider knowledge as a good to share.

Produce, transfer and share knowledge to gain a competitive edge.

Author Bio:

A.H. Sagar is Operations Manager at CYONWO and author of Local Advertising Journal. A.H. has more than 6+ years of experience in digital marketing. His expertise helps him to be a professional blogger and he loves to share his ideas, tips, tricks and information with blogging.

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