Knowledge Management- The Best Strategy for well-informed decision making.

Knowledge is a combination of real life experiences with application of various facts ,values and information which is self driven with an expert insight that provides path for incorporating new experiences. Knowledge also comprises of various strategies ,Practice,Methods or approaches.

What is Knowledge Management?

Knowledge management is the management of the creating a supportive organization structure by felicitating various instruments with emphasis on Team work and group ware into place. Simply saying when people realized that valuable information required is a resource that needs to be managed to be useful in an organization.

Knowledge Management

Knowledge Management mainly focuses on Improving performance of an organization. The Existing situation needs to be analyzed and learned lessons should be shared and integrated and those changes need to be implemented. Knowledge management is a continuous organizational learning process which focus more on management and sharing of knowledge.

With our Communities of practice there is no knowledge management .Communities of practice is a group of people together to build relationships and also to share a concern ,problems or topics or discussion with a sense of mutual commitment and interaction in an ongoing basis.This kind of sharing of knowledge is of Techno-Centric.

Knowledge can be accessed at before ,during or after Knowledge management related activities by incorporating systematic performance measurement plans. First and foremost strategy is to actively manage knowledge which is also known as codification approach some times also called as Push Strategy. Codification approach means retrieving knowledge required from repository. Second Strategy an Expert individual can provide their insights knowledge requests to particular person or subject which is also known as personalization approach some times also called as Pull strategy.

 

Knowledge Management's Main focus is to reduce cost and risk and leverage existing assests to reducing cost ,risk and cycle time .Knowledge Management also helps to improves decision making through strategic planning methods. In order to increase the versatility of work force and faster improvement in latest technical approaches and provides faster Robust problem solving methods. Knowledge management mainly helps in Technology driven Industry firms which improves the business and also reduce the cost of employee training. Knowledge Management has become a corner stone in emerging global business strategies which enhance their efficiency to all Industries .