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In the corporate environment, knowledge comprises information, forecasts and trends, analyses and research findings on products and processes, customers, suppliers and markets, experiences of failures and successes, among various other business details. Unlike material assets, which decrease with consumption, the value of knowledge as an asset increases in direct proportion to its application; shared knowledge remains intact with the giver even as it enriches the receiver. Ideas breed experiences.
What is Knowledge Management ?
Knowledge management is deliberate and systematic building, renewal, and application of knowledge. It is a process, which continuously and systematically gathers information from individuals and teams that generate learning, and systemizes it in the 'collective brain' of the organization for the benefit of the entire structure. It involves leveraging and reusing knowledge resources that already exist within the organization to maximize the returns from its knowledge assets.
Knowledge management also means gathering, organising and sharing intangible knowledge like professional know how and expertise, creative solutions, technology and even individual insights and experiences. It involves the systematic creation of an interactive, learning corporate environment, where people readily transfer and share what they know, internalize it and apply it to create new experiences through existing knowledge.
Types of knowledge
Explicit knowledge is recorded and available in various media like books, periodicals, letters, reports, memos, literature, etc; audio-visual material, CDs, films, videos, etc; or electronic formats like data, software, websites, etc.
Implicit (Tacit) knowledge is invisible and, often, confined to the mind of a person. It is hard to codify and, therefore, difficult to communicate to others. Transformation of knowledge from the implicit (Tacit) to the explicit increases its usability and visibility. But capturing the implicit (often intuitive) knowledge that resides within an expert in the form of know-how and insights is very difficult and challenging.
Implicit (Tacit) and explicit knowledge are not discrete or separate categories. They are so heavily linked as to be practically bipolar and nearly impossible to map. For example, to completely understand a written document (explicit knowledge) it requires a significant amount of insight and experience (implicit knowledge) - like a machine drawing which is indecipherable to a person without an engineering background.
What are the implications of this for industry and trade? The three traditional factors of production - land, labour and capital - are relatively easier to handle in the 21st century. The new fourth factor, knowledge, which is at the heart of much of today's global economy, is rapidly emerging a bottleneck to growth in new areas. Therefore, managing knowledge, the driver for the growth of economies, is vital for a company's success in today's knowledge economy.
" Knowledge Management is a process of identifying where knowledge lies in an organization, collecting the knowledge in Explicit(codified) format, converting the Tacit(inferred) knowledge in explicit format, and disseminating the knowledge in shortest possible time, keeping in view the correctness and confidentiality of the knowledge.
... LiBSUITE - KM vision
for Knowledge Management
for Knowledge Management
Libsuite KM helps in managing the knowledge management process by various modules which help in capturing, managing and dessiminating the knowledge.
It is based on the principal that every individual in an organization has some important knowledge and expertise . It helps in capturing this expertise and establishes the formal and informal channels for information dessimination.
At the base of it, it has the document repository. With many modules like MOM, Opinion Polls etc. it helps in mobilizing the tacit knowledge.
LiBSUITE - KM Knowledge Management Modules
