Knowledge Management : A Marketable Good Or An Intellectual Asset

In order to manage knowledge successfully, it is essential to clarify the essence of knowledge before identifying the importance of knowledge management. The perception of knowledge has been varied broadly; however, one of the generally accepted defintion is from Davenport and Prusak (1998). According to their points of view, knowledge is defined as a set of experience and values, it either comes from individuals ' mind or roots in the organisation, which can be found in the documents, routines, practices and norms, and is assumed to flow between individuals through various networks, being used to assess and embody new

Through our examination of Hislop (2013) and other supporting material during this class, we have discovered the characteristics and nature of knowledge management strategy. Using my organization as a back drop it has become clear the one does not merely undertake a knowledge management program and expect success. Instead, it requires a thorough examination of the organization, essential knowledge, key roles, policies, politics, available technology

Knowledge management was defined as the turning of information into actionable knowledge which can be accessed by people who can apply it. Robbins (2003) gives a time perspective in his definition of knowledge management. He mentions as part of knowledge management the distribution of the right information to the right people at the right time. Lytras et al (2002) gives a definition of knowledge management which emphasises the purpose of knowledge management. In the definition creation of new capabilities, enablement for superior performance, encouraging innovation and enhancement of customer value were mentioned. For the purpose of this study the researcher summarised knowledge management as the intentional process of coordinating people, technology and systems to optimise creation and sharing of intellectual

The superior capabilities of knowledge management systems provide an opportunity for the business to engage the most effective components and recognize the importance of communication to make informed, accurate decisions (McGrath, 2001). This system can organize the company’s knowledge resources, knowledge obtaining, organizing, and applying to make a sound routine the will enforce effectiveness (Niu, 2008). The dynamic function of knowledge management to create, capture, and apply knowledge to achieve an organization’s objective will allow them to be more profitable and successful (Zucker, 1986). In addition to increasing profits, the system can be also used to reduce costs and enhance research and development (DeTienne & Jackson, 2001). With all of these advantages, it would be wasteful for a company to not employ knowledge management. As seen in the Discovery Communications, Inc. example, the company can attribute their new productivity levels and increase in ease of securing documents to the knowledge management system that put into place by Carefree Technology. Like Discovery Communications, Inc., knowledge management is so popular today because companies can collect, process and share knowledge to ignite employees ' creativity which in turn will make the business grow. Wenhong and Jianhua (2009) explained the core of knowledge management is to convert company’s knowledge resources into an increased company

In today 's high competitive business world, success is dependent on how efficiently and effectively an organization can develop and utilize its information and knowledge resources(Carlsson etc, 2002). Therefore, there are many dispute on information and knowledge management. The purpose of this essay is to discuss the relationship between Information management(IM) and knowledge management(KM), then argument about whether KM is important for an organization. In order to make sure essay have a clear structure, this essay main divided into four parts (from Part 2 to Part5 ): Part 2 will introduce what is IM and KM, the benefits of IM and KM, the relationships amongst data, information and knowledge, and then this paper will introduce the relationship between IM and KM; Part 3 will analysis case study of good knowledge management in Xerox company; Part 4 will analysis case study of bad knowledge management in NASA; Part 5, this essay will give an argument result to you in conclusion.

Knowledge is defined as “an understanding and one that gains knowledge through experience, reasoning, intuition and learning” (Cong, & Pandya, 2003, p. 2). Individuals can inflate their knowledge when they share their knowledge with others, and when knowledge is combined with other people’s knowledge they will begin to build new knowledge. It is also considered as a mixture of values, experience, background information, grounded intuition and authority insight that offers a framework and environment for integrating and gauging new information and experiences. It “is applied in the minds of knowers and in organizations, where it is often embedded not only in documents or repositories but also in organizational routines, processes, practices and norms” (Cong, & Pandya, 2003, p. 2).

The problem for this dissertation study test the challenges associated with creating, capturing and sharing knowledge. Doda (2017) describes this method as knowledge management. This method uses a critical goal of improving learning and performance in an organizational framework. Knowledge management as theory and a model was improved by Dalkir in 2005 (Atieh & Somayeh, 2017).

Knowledge management is defined by Sallis and Jones (2002), as “a systemic method for managing individual, group and organisational knowledge using the appropriate means and technology”. In short, it involves various fields of expertise in achieving organisational objectives by making the best use of knowledge at the same time.

Since the mid-1990s, knowledge management has become increasingly significant for business managers and companies. ‘It is broadly accepted that systematic knowledge management is tightly linked with gaining and sustaining competitive advantage.’ (Bogner & Bansal, 2007, p658-6 as cited in Hislop, 2009, p1) The definition of knowledge management is various because of the wide range of this concept and its complexity (Al-Hawamdeh, 2003). For example, the broad definition provided by McAdam and McCreedy (2000, p155 as cited in Hislop 2009, p53) note that: ‘KM relates to the management of anything classified as knowledge’ Furthermore, Hislop (2009, p59)

A report has been written describing the knowledge management systems and reviewed based on various aspects which was used to determine whether or not the system considered could be used for managing knowledge. It was through researching journals, articles and other reliable sources from the internet this review was written which led to me finding out more on the topic of knowledge management which has considerably increased my understanding of the topic

The tacit knowledge approach highlights understanding the sorts of knowledge that individuals in an organization have, moving people to transfer knowledge within an organization and managing key individuals as knowledge creators and carriers. One of the significant capabilities of competition is managing perceived intangible assets such as knowledge in organization. Besides managing this intangible asset of enterprises, another vital issue is considered as diffusion of knowledge within the organization. Knowledge resources can be divided into at least two different components depending on the possibility of structuring and coding the knowledge. The possibility to code and the externalization of knowledge is of essential importance to the diffusion of it according to some researchers, while other again considers the codifying unnecessary or of minor importance. Structured knowledge is often diffused by different systems for storing and sharing knowledge and today there has been much scientific interest in the technology of these systems. The most important feature of the tacit knowledge approach is the fundamental principle that knowledge is basically individual in nature and is

A technologic approach to Knowledge Management has a much higher initial cost, is inherently more scalable, and can handle a much greater transaction volume than an unassisted knowledge worker. Technology in support of Knowledge Management isn’t necessary or even optimal in every instance. Technologies supportive of Knowledge Management can be applied successfully to organizations of any size; extensive investments in technology are generally practical only in medium-size to large companies. Perhaps the most significant way technology enables the KM process is that it can provide virtual meeting space for communities of practice.

In order to understand knowledge management, it is important to start by defining what knowledge is. Knowledge is the full utilization of information and data, coupled with the potential of people's skills, competencies, ideas, intuitions, commitments and motivations. In today’s dynamic and complex business environment, the desire for knowledge has increased even more with the scope and content changed dramatically, often spreading outside the organization.

Knowledge based decisions are influenced by many issues and amongst them is the intrinsic characteristics. According to Stewart (1991), while knowledge is increasingly viewed as a commodity or intellectual asset, there are some paradoxical characteristics of knowledge that are radically different notably. By passing on knowledge to others does not mean that you lose it. Much of an organization’s valuable knowledge walks out of the door at the end of the each day.

Being challenged by the dynamic world of complex needs and expectations, organizations need to effectively and efficiently manage their internal base of resources. An essential organizational resource is knowledge (Choo, 2002). It is not only an essential resource itself but a facilitator and stimulator of new internal capabilities (Little, 2002).