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Knowledge Management

This paper reviews literature on knowledge management and its importance for organizational management. It finds that knowledge management is a key driver of organizational performance and critical for competitiveness, survival and profitability. The paper discusses how effective knowledge management through processes, technology, and developing staff knowledge is important for organizational success. It also notes that knowledge alone does not provide advantage, but having relevant knowledge and ability to leverage and manage it is a strategic tool. The paper recommends organizations evaluate and provide feedback on their knowledge management systems to improve outcomes.

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26 views

Knowledge Management

This paper reviews literature on knowledge management and its importance for organizational management. It finds that knowledge management is a key driver of organizational performance and critical for competitiveness, survival and profitability. The paper discusses how effective knowledge management through processes, technology, and developing staff knowledge is important for organizational success. It also notes that knowledge alone does not provide advantage, but having relevant knowledge and ability to leverage and manage it is a strategic tool. The paper recommends organizations evaluate and provide feedback on their knowledge management systems to improve outcomes.

Uploaded by

sara
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Knowledge Management as an important tool in Organizational

Management: A Review of Literature


Purpose:
This paper reviews literature in the area of knowledge management to bring out the importance
of knowledge management in organization. The paper is able to demonstrate that knowledge
management is a key driver of organizational performance and a critical tool for organizational
survival, competitiveness and profitability.
Variables:
Knowledge, Management, Organization
Hypothesis:
Knowledge Management as an important tool in Organizational
Management
Methodology:
Researcher used secondary research methodology to collect data regarding his research that is by
going through literature review, already published material or researches by other researchers.
Findings:
The importance of management of knowledge in organizations has been discussed. The effective
management of knowledge has been described as a critical ingredient for organizations seeking
to ensure sustainable strategic competitive advantage. It has been brought out that processes and
technology alone are not enough to drive an organization, but its people (staff) and the
knowledge that reside in the people are a very integral pivot in organization’s success. Therefore,
in order for an organization to be successful, attention must be paid, not only on the processes
and technology, but on knowledge and its workforce (which are people who are the sources of
knowledge). KM has also been demonstrated to be tightly related to objectives and business
strategies of the organization and thus a very useful tool in management. If KM fails to add value
to the organization, it is only cost intensive, useless, or counterproductive. A pertinent question
that is being asked is whether knowledge is always something good? Knowledge is always
assumed to be generally positive. However, it is difficult to assume that knowledge is always
positive and good. It has been discussed in this paper that knowledge is one of the resources that
provides organizations with sustainable competitive advantages. However, knowledge as such
will not have much value for the organization in building its competitive advantages, but having
the relevant knowledge and the ability to leverage and manage knowledge is a strategic
management tool. It is therefore essential for management in organizations to look for means to
gain, maintain, and leverage knowledge to achieve a lead to higher levels of success for
organizations. As Mayo (1998) note, many organizations have been managing knowledge for
decades but few of them use KM on a regular basis. In summary, to implement a KM strategy
successfully, the creation, organization, leveraging (sharing) and application of knowledge must
be taken into account.
Recommendations:
Evaluation and feedback are of utmost importance. The need to create a system for evaluating
the attempts that are made to use KM is very important. The evaluation system can range from
informal attempts, such as talking to people about how “best practice” is shared within the firm.
Other management tools/measurements can also be adopted to measure the outcomes from KM
usage in the organization.

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