Knowledge Management Overview

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What is Knowledge Management (KM)?

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The process by which the knowledge and information of an organization is created, shared, used, and managed.

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What are some organizational objectives of Knowledge Management?

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Achieving Financial Success, Increasing Sales Figures, Improving Human Resources, Retaining Talented Employees, Focusing on Customer Service, Establishing Brand Awareness.

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Why is Knowledge Management important?

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It boosts the effectiveness of decision-making capacity, ensuring access to overall expertise for informed decisions.

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What are the four components of Knowledge Management?

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People, Process, Content/IT, and Strategy.

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What role does Knowledge Management play in Public Administration?

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It improves the effectiveness of public and private decision-making and handling of situations.

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What are the seven steps in the standard process of knowledge flow?

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1. Create new knowledge 2. Identify essential knowledge 3. Collect knowledge 4. Review know-how 5. Share documented knowledge 6. Access knowledge 7. Use knowledge.

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What is Intellectual Capital (IC)?

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The value of a company’s employee knowledge, skills, business training, or any proprietary information that may provide a competitive advantage.

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What historical methods have been used in Knowledge Management?

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On-the-Job Discussion, Discussion Forums, Formal Apprenticeship, Corporate Libraries, Professional Training, Mentoring Programs.

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How did the use of technology impact Knowledge Management in the late 20th century?

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Increased use of computers led to adaptations like knowledge bases, expert systems, and online tools.

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What is the significance of the phrase 'knowledge is in people'?

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It emphasizes that knowledge is personal and subjective, focusing on individual capacity development.