What is Knowledge Management (KM)

Knowledge Management

Knowledge management (KM) is an integrated approach to identifying, capturing, evaluating, retrieving, sharing, and using all of a company’s organizational knowledge and information assets. These assets may include databases, documents, policies, procedures, expertise, and experience.

Knowledge Management (KM) – Organizational Objectives

Business culture and leadership play a critical role in Knowledge Management. To properly implement Knowledge Management, those in charge of the company must value its worth. They set the goals and objectives. They ultimately provide the resources and accountability. Standard organizational goals and objectives for Knowledge Management are:

Facilitate communications internally and externally
Facilitate organizational learning
Leverage expertise
Manage crowdsourcing
Manage intellectual property

Knowledge Management (KM) – People

At the end of the day, Knowledge Management is about two things: information and people.

People collect and organize information.
People use the information collected.
People provide their experiences and expertise.
People create intellectual property.
People design and develop the systems to collect, organize and distribute information.

Knowledge Management (KM) – Business Process

Business Process is a set of activities and tasks that, once completed, accomplish an organizational goal. It often takes dozens to thousands of people to create a final product that a customer can use. Business processes are procedures, policies, rules, guidelines and systems that are used to instruct people on how to get from the beginning to the end of a project. Business processes can be categorized into three primary types: management, operational and support.

Knowledge Management (KM) – Technology

Technology has many functions within an organization.

Technology automatically gathers, stores, categorizes and distributes information.
Technology automatically allows or restricts access.
Technology improves communication between people.
Technology provides tools to instruct people.
Technology provides tools to design, develop and distribute various required items.