Knowledge Management Essay Example | Topics and Well Written Essays - 750 words - 3

Knowledge Management - Essay Example The information or knowledge can be derived from two major sources: the individuals or employees and the information or data found in the approaches or procedures of the organization. â€Å"Knowledge management is the formulation of and access to experience, knowledge, and expertise that create new capabilities, enable superior performance, encourage innovation, and enhance customer value†(Gloet, 2006). Furthermore, â€Å" KM is a strategy that turns an organizations intellectual assets-both recorded information and the talents of its members into greater productivity, new value and increased competitiveness, it teaches cooperation from managers to employees, how to produce and optimize skills as a collective entity† (Gloet, 2006). The primary motive of knowledge management is to ensure that the aims and goals of the organization. The objectives of the organization revolve around the enhancement of performance, increasing organizational efficiency, innovation, learning and development and constant development of the organization (Addicott, McGivern and Ewan, 2006). Research suggests that KM concentrates on the integration of organizational learning and development in order to distribute knowledge and information. Furthermore, it allows individual employees and groups to work collaboratively in order to share organizational insights in order to improve organizational productivity and efficiency. It also concentrates on enhancing the overall organizational structure, increasing profitability and to change in accordance to the conditions of the market. Literature suggests that KM is an essential and integral part of business organizations and it concentrates on delivering and sharing of relevant knowledge to the appropriate individual at the right time. For this purpose, it is essential that the knowledge management systems are developed in accordance to the needs