The Essentials of Effective Knowledge Management

Abstract

After an intensive. discussion over years about the importance of Knowledge Management (KM) it is being concluded that it is a prerequisite for higher productivity and flexibility in any organization. Undoubtedly knowledge is a valuable asset but only when used effectively to be translated into value. To do so, one needs to understand the hierarchy within knowledge. Knowledge evolves from data and information, but it often remains contextspecific. Knowledge is broadly classified into explicit and tacit. Individuals as well as groups derive benefits from the possession of knowledge. Knowledge is though recognized as the most important economic resource in contemporary organizations as knowledge content is increasing in all kinds of goods and services. Thus organizations must develop learning skills and knowledge management techniques. The productivity and effectiveness of knowledge management is the key issue across diverse industries. To improve its effectiveness and usefulness an organization has to ensure that it is not caught in another argument on semantics but prove its use. This paper attempts to address key steps to make the use of knowledge to be leveraged into value The Do's and don'ts would pave an easier way for all knowledge users. It is a perspective through a positive lens to make Knowledge Management more effective