Question

What is knowledge management and why is it so important?

Answer 1

Knowledge management for an organization is systematic management of organizations' knowledge assets for creating business value and helping organization to increase it efficiency by linking the knowledge with strategy and goals of organization.

Some of the key importance of Knowledge management are :

• Enhance Learning to employees - Knowledge Management create/provide the right tools, people, knowledge, structures (teams, etc.), culture, etc. to enhance learning
• Efficiency - It improved team effectiveness and delivery of outcomes.
• Robust Information System - It help organization to have robust information location and retrieval channels to enhance individual decision making
• Knowledge Sharing - ?It ensures that created knowledge is shared with and integrated across the whole of the organization.
• Improve decision-making processes - With right information at the right place and right time helps the organization to take effective and correct decision that is aligned with organization goals.