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- Knowledge Management ('KM') comprises a range of practices used by organisations to identify, create, represent, and distribute knowledge for reuse, awareness and learning.
- Most large companies have resources dedicated to Knowledge Management, often as a part of 'Information Technology' or 'Human Resource Management' departments, and sometimes reporting directly to the head of the organisation.
- As effectively managing information is a must in any business, Knowledge Management is a multi-billion dollar world wide market.
- Knowledge Management programs are typically tied to organisational objectives and are intended to achieve specific outcomes, such as shared intelligence, improved performance, competitive advantage, or higher levels of innovation.
- One aspect of Knowledge Management, knowledge transfer, has always existed in one form or another.
- Knowledge Management programs attempt to manage the process of creation (or identification), accumulation and application of knowledge across an organisation. Knowledge Management, therefore, attempts to bring under one set of practices various strands of thought and practice relating to:
- intellectual capital and the knowledge worker in the knowledge economy
