What Is Knowledge Management And Why Do Businesses Practice It?

By Author: Clara Ross
Total Articles: 47
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Education has become an essential part of every ones' life. It plays important role in bringing positive changes in the life of people as it provides knowledge. People go to schools, colleges and universities for the sake of knowledge. What is knowledge? And why it is needed? Knowledge is acquired for the sake of learning new things and it broadens mind and brings out the creativity of an individual. It makes a person skillful and provides technical understanding of various things. To provide a perfect definition of knowledge is impossible but for the benefit and survival of an individual it is very important.

To acquire knowledge is not only important for an individual but it is important for businesses too. That is why businesses perform knowledge management activities. Knowledge management in businesses came up as a scientific management method in early 1990's. Since then there has been continuous improvement in this field and a lot of new techniques and tools have been introduced to make this process efficient and effective.

Talking about the knowledge management in an organizational context it would mean to ...
... collectively manage the information and the expertise in the form of employees and organizational processes. Knowledge management is considered to be necessary for organizations now. It is the knowledge management that makes the risk management, time management, change management and other management processes possible. Knowledge management is an organizational framework in which an organization views all its on going processes including creating, disseminating, renewing, and applying knowledge toward organizational sustenance and survival. To be successful in any kind of business it is important to practice knowledge management. Knowledge management helps to identify all the needs and wants and provides the accurate information about the ongoing processes. It gives a clear idea about steps to be taken in future. Companies provide training to the employees so that they can understand the new processes involved in the company and enhance the knowledge of the workers. Everything that happens in an organization and every process being carried out by any organization becomes a part of knowledge management.

Knowledge management have become important for the businesses because there is a need to manage increasing complexity in the business processes, market for every business is becoming competitive, reduce the scope creep, bringing out maximum out put and many other factors related to the success of the organization. Organizations which perform knowledge management are able to achieve the aims and goals efficiently whereas those organizations which do not practice knowledge management fail to achieve success.

Clara Ross is the writer for American Clothing Wholesale , New Emerging Product Technologies and Dubai Real Estate News . The author has got more than a decade of experience in the real estate, marketing, and wholesale industries and has been writing articles in industry related magazines, websites and blogs.