It's not who you know, it's WHAT you know -- and how you manage it

Corbitt, Terry
March 2005
Management Services;Spring2005, Vol. 49 Issue 1, p32
Academic Journal
This article deals with the importance of knowledge management in the success of a business. Many management consultants agree that knowledge has become the main competitive tool for businesses and that it is the only meaningful economic resource having replaced capital and labor in importance. Many organizations have appointed chief knowledge managers who are responsible for all stages of creation, capture, deployment, sharing, use, development and valuation, and how these fit into the knowledge cycle. Knowledge management is concerned with the exploitation and development of knowledge assets with a view to furthering the organization's objectives. The knowledge to be managed will be developed from both explicit, documented knowledge and tacit, subjective knowledge. Knowledge management includes all of the processes associated with identification, sharing and creating knowledge. This requires systems for the creation and maintenance of knowledge repositories and to cultivate and facilitate the sharing of knowledge. Organizations that succeed in knowledge, management will view knowledge as an asset and will develop organizational norms and values that support the creation and sharing of knowledge.


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