Create a new account

It's simple, and free.

Knowledge Management & Better Business Performance

Corporate culture is keen on adopting strategies it believes will lead to greater performance, both in terms of productivity and higher profits. In the early 1970s, distributed computing was viewed as the answer to higher performance, as, in the 1980s, office automation became a key goal. As the ‘90s unfolded, business process reengineering was met with open arms by corporate management. Now, as we enter the new Millenium, Knowledge Management (KM) is experiencing the same enthusiastic reception as these other phenomena as a means of achieving better business performance.

What is KM? According to Information Management Journal, “Knowledge management is concerned with systematic, effective management and utilization of an organization’s knowledge resources. It encompasses the creation, storage, arrangement, retrieval, and distribution of an organization’s knowledge” (Knowledge 4). Despite the increased performance which effective knowledge management provides, experts warn there are “dos” and “don’ts” involved in order for knowledge to be managed effectively. Many point to a “knowing-doing” gap, while others suggest there are cultural and other barriers involved in the effective management of knowledge. This analysis will discuss some of these “dos” and “don’ts” in order to demonstrate how effective knowledge management will lead to better business performance.

Knowledge management attempts to create, store, share, and apply information to the benefit of the organization, its vendors, and its customers. By optimizing the use of knowledge within the organization, the corporation is able to provide enhanced value to its services, products, and customers. In today’s global marketplace which offers greater competition, organizations try to add value to their product and services in order to retain competitive advantage over other organizations. Effective KM allows for management and emplo...

Page 1 of 9 Next >

More on Knowledge Management & Better Business Performance...

Loading...
APA     MLA     Chicago
Knowledge Management & Better Business Performance. (1969, December 31). In LotsofEssays.com. Retrieved 02:04, March 29, 2024, from https://www.lotsofessays.com/viewpaper/1685822.html