What Is Knowledge Management Essay example

1581 Words Oct 24th, 1999 7 Pages
What is Knowledge Management? Introduction* Generally, knowledge is interpreted, subjective information within a context, which involves understanding and is mostly tacit, not explicit. Knowledge can take many forms. It can be in the form of thoughts, insights, ideas, lore, lessons learnt, practices, and experiences undergone to name just a few. The term knowledge management has become common in businesses throughout the world. Despite its increased prevalence, there remains a large degree of confusion concerning the applied definition of what knowledge management is. Within the knowledge management community, attempts at defining this elusive term appear to be in constant flux. However, a basic description of what constitutes …show more content…
Applications to Business Strategies KM can assist an organization’s pursuit towards various business strategies, as well as ensuring such strategies are incorporated in a highly effective manner by creating the following opportunities: KM is able to create and ---successful business strategies through the delivery of:  Joint Ventures/Partnership/Acquisitions  Contract relationships  Global Practice  Grow organically  Establish customer consortium  Develop support model  Become a Value Added Reseller for KM technologies  Define & develop core competencies (technology, business acumen, leadership Enhanced Market Penetration  Penetrate from the top  Leverage alliances/partners  Exposure through conferences/internet  Utilize account management to fullest  Embed KM into existing products & services  Establish customer consortium Brand Name Creation  Participate and exploit recognized benchmarks for industry exposure and recognition  Be published  Be quoted  Deploy and assess the contribution of KM toward achieving business results  Industry recognition (e.g. American Productivity and Quality Center, Gartner Group)  Develop ability to quantify value delivered

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