Knowledge management can refer to the ways in which organizations collect, manage and use the knowledge they obtain.
Knowledge management is a term applied to the techniques used for the methodical collection, transfer, security and management of information in organizations, together with schemes designed to help make the best use of that knowledge.
Specifically, it refers to tools and techniques designed to safeguard the availability of information held by key people and facilitate decision-making. It also has a role to play in reducing risk. It is both a software marketplace and a consulting practice area, associated with disciplines such as competitive fitness.
In addition, knowledge management designates an approach to improve organizational results and organizational learning. This is accomplished by introducing a collection of particular processes and practices to categorize and capture knowledge, experience, expertise, and other intellectual resources. It also involves making those knowledge assets accessible for transfer and usable across the organization.
Knowledge management programs are, in general, linked to defined organizational objectives and are designed to lead to the achievement of specific results such as superior performance, competitive advantage or higher levels of modernization.
Knowledge transfer, an aspect of knowledge management, has been around constantly in one form or another, such as through on-the-job discussions with peers, officially through apprenticeships, specialized training and mentoring programs, and recently technically through through knowledge bases, professional systems, and other knowledge repositories. Knowledge management programs seek to intentionally assess and manage the process of growth and application of intellectual capital.
Although knowledge management programs are quite similar to organizational learning initiatives, knowledge management can be differentiated from organizational learning due to its greater focus on managing particular knowledge assets.
The rise of knowledge management has seen a growing understanding of the difference between implicit and precise knowledge. He has also witnessed refined views on the management, evaluation and utilization of intellectual resources, and the emergence of new managerial roles and responsibilities, such as the Chief Knowledge Officer (CKO) position.