Components Of Knowledge Management

Knowledge management (KM) is now considered as one of the most important parts of any organization and a complement to the hospitality activities. With new economy increasingly becoming a more knowledge-based economy, knowledge is becoming the most important asset for organizational success among other assets such as capital, materials, machineries, and properties as stated by Wong (2005). KM is the practice of selectively applying knowledge from previous experiences of decision-making to current and future decision making activities with the express purpose of improving the organization’s effectiveness (Jennex, 2005). The KM success is reusing knowledge to improve organizational effectiveness by providing the appropriate knowledge to those …show more content…
KM processes can be divided into several components that are acquisition, conversion, application, and protection (Gold et al., 2001).
1) Acquisition Processes: Gold et al. (2001) indicated that Acquisition-oriented KM processes are those oriented toward obtaining knowledge which can be described by many other terms such as acquire, seek, generate, create, capture, and collaborate, all with a common theme – the accumulation of knowledge. According to Chakravarthy et al. (2005) knowledge acquisition takes place at all three levels of the organization (individual, team, and organizational/institutional). Once such knowledge is acquired, it benefits the organization in terms of productivity, the enhancement of creativity, the reduction of response times, and the improvement of decision-making. Jashapara (2004) indicated that acquiring knowledge is one of two major ways. The one way is through individual members of the organization, as they interface with the clients, suppliers or stakeholders. The other way is from organization to another (intra-organization knowledge acquisition), as well as by means of …show more content…
(2009) revealed that organizational culture underpins knowledge management by influencing how members learn and share knowledge. Organizational culture is the main impediment to knowledge management and it is vital to note that organizational culture contributes significantly to or impedes KM. Migdadi (2005) stated that organizational culture has a fundamental role in knowledge management. Organizations tend to develop dominant organizational cultures over time as the organizations adapt and respond to the challenges and changes in the environment. In light of the above, culture and structure could be essential or major feedback in knowledge management for organizations in the Tourism and Hospitality