The term knowledge management comprises of two quite simple words- knowledge and management. Although the terms are quite easy to find meanings in the dictionary, the term when used together is quite complex and witty to understand. Knowledge management is formally defined as a business activity that is used by organizations for a number of reasons.
- To gain competitive advantage in the competitive world and to produce innovation.
- Reducing the size of work in organizations.
and many more.
The strongest understanding I got from the term knowledge management was when it was split into two terms viz: knowledge and management. Knowledge is again divided into explicit and tacit knowledge. Explicit knowledge is the knowledge which can be passed on and learnt through various sources. Tacit knowledge is the individuals ability to understand a situation based on past experiences and personal belief, perspective and values. This was all I understood about knowledge management as a concept and why it was needed in the organizations.
