Knowledge Management
When information is hard to find within a company, it may be quite expensive for the enterprise because valuable time is lost looking for pertinent information instead of doing activities with a clear goal in mind.
By utilizing the organization's pooled knowledge, a knowledge management system (KMS) improves operational efficiency. A knowledge base is used to support these systems. They often play a key role in the success of knowledge management by offering a centralized location for information storage and easy access.
What is knowledge management (KM)?
The process an organization uses to collect, share, organize, and evaluate its knowledge so that employees may quickly access it is known as knowledge management. Technical resources, FAQs, training manuals, and other data can all be included in this knowledge.
Data mining and a method of pushing information to users to make it easily available are part of knowledge management. In order to meet the demands of a business, a knowledge management plan entails a study of corporate goals and a careful analysis of the traditional and technical tools available. Choosing a knowledge management system can be difficult since it requires developing or buying software that complements an organization's entire strategy and motivates staff to share and utilize the system.
Types Of Knowledge Management
Knowledge can be classified into four categories: explicit, tacit, implicit, and embedded. Nonetheless, the two most significant differences are implicit and explicit.
- Explicit knowledge
This kind of knowledge is codified, which means it may be found in databases, written processes, checklists, books, files, folders, documents, and how-to videos. A knowledge management system can extract and handle this sort of knowledge with the greatest ease. It is the most transferable type of knowledge by definition. - Tacit knowledge
This type of information is based on intuition. It frequently aids in reaching long-term objectives and is founded on experience and practice. Since all of this knowledge is held by one individual, it is challenging to transfer. Unlike explicit knowledge, it is difficult to extract, hence the knowledge-holder must either write it down or make a film. Developing leadership abilities or knowing when to begin a sales pitch are two instances of tacit knowledge. Tacit knowledge is often referred to as emotional intelligence, intuition, and judgment. - Implicit knowledge
The application of explicit knowledge is meant by this. It is harder to capture and contains the explanation of that explicit information. - Embedded knowledge. Organizational cultures, manuals, procedures, systematic processes, and structures all include this knowledge. It is included either explicitly through management initiatives or obliquely through the usage and application of other knowledge types by organizations. Although explicit sources can contain embedded knowledge, it's not always clear why a particular course of action is crucial for a firm. This is also sometimes called procedural knowledge.
KM's primary objectives are to increase organizational effectiveness and save information in a format that is easily retrieved. The goal of knowledge management is to present the appropriate information to a user at the appropriate moment.
To achieve this, take the following actions:
- Assembling knowledge into a knowledge management system and using it to handle particular projects and business needs.
- Imparting knowledge to those who might find it useful.
- Enhancing procedures and technologies to facilitate knowledge acquisition.
- Encouraging the creation of fresh knowledge in order to learn continuously.
Businesses can overcome silos by putting information in a location that is easily accessible to every employee thanks to knowledge management. Additionally, it allows staff members to store knowledge they've accumulated over time, saving a company from losing that expertise when staff members depart.
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