Knowledge management
Knowledge management (also known by its acronym, KM; hereinafter, KM) is the process of creating, sharing, using and managing the knowledge and information of an organisation.It refers to a multidisciplinary approach to achieving organisational objectives by making the best use of knowledge. Knowledge management efforts typically focus on organisational objectives such as improved performance, competitive advantage, innovation, the sharing of lessons learned, integration and continuous improvement of the organisation. These efforts overlap with organisational learning and may be distinguished from that by a greater focus on the management of knowledge as a strategic asset and on encouraging the sharing of knowledge. KM is an enabler of organisational learning.
Definition
According to Managing Quality by Foster (6th edition),
- Knowledge management. The process of maintaining and using company information.
According to the Corporate Strategy by Lynch (4th edition),
- Knowledge management. The retention, exploitation and sharing of knowledge in an organization that will deliver sustainable competitive advantage.
