Knowledge management is a management philosophy that unifies procedures for the core business of the organization. It acts as a support for the rational use of existing knowledge in the organization with the aim of creating new knowledge.
This knowledge is used efficiently to realize the organizational vision and business goals of the company to create value and efficiency to raise capital. In the knowledge age, managers experience new and unknown experiences throughout their careers. They experience the need to manage people, it is an ideal resource for an HR manager and the skill they need to learn and use.
Knowledge management is the systematic management of an organization’s knowledge assets in order to create value and meet tactical and strategic requirements; it consists of the initiatives, processes, strategies, and systems that support and enhance the storage, evaluation, sharing, refinement, and creation of knowledge.
It implies a strong link with the objectives and strategy of the organization, and implies the management of knowledge that is useful for some purpose and that creates value for the organization.
On the other hand, employees experience something new every time during their career. They learn important knowledge by interacting with their peers and mentors. The employee, over time, learns to clear their differences to work as a team.
Knowledge and Cultures:
This expression of ‘knowledge management’ is not particularly accurate, mainly because it is difficult to connect ‘management’ with ‘knowledge’. However, when it became clear to organizations and technology infrastructure providers that the essence of knowledge management is the integration of culture, processes and infrastructures. Once all these elements are combined, it becomes clear that this is a process and not a one-time ad hoc activity. Leading IT companies view data management as knowledge management.
Knowledge in the organization is an asset that supports the efforts of the organization to lead them in their field of business. Knowledge management plays an important role in the effective exchange of information within the company. Through an effective knowledge sharing system, employees can share different information with each other.
It is important for companies to have a solution for their particular problems, it is possible to speed up problem solving for different organizational problems when the company has a culture of knowledge gathering and sharing. That is why companies today focus on innovative technologies that promote knowledge sharing throughout the organization. Knowledge management will help the company to:
• Solve different problems that must be solved when they occur
• Have an accurate information collection system and communication must be done using the appropriate communication channels.
• The decision-making process is improved
• Adopt the knowledge creation process
• All knowledge collected must be shared
• Integrated solutions for different problems should be provided.
• Knowledge management helps teams to perform better and in a more sophisticated and effective way.
• The culture of the organization is focused on continuous improvement