Knowledge is, indisputably, the most valuable asset of life. Go through this article to know the importance of knowledge management.

Importance Of Knowledge

Knowledge management is a discipline comprising of strategies and practices utilized to improve the ability of organizations to identify, create, represent, distribute, and enable options to solve problems in a more better and enhanced manner. Through knowledge management, the organization aims at meeting changing business requirements and surviving various disruptive changes, such as staff turnover. An organization is a complex system that consists of both people and processes. As such, knowledge management identifies people working for the organization, and procedures and information systems that drive people’s actions. Hence, knowledge management is required by both individuals and groups to acquire thoughts and insights. Know more about the significance of knowledge management by browsing through the following lines.


Importance Of Knowledge Management


Creates A Knowledge Diagram

If an employee is in need of certain information in order to complete the designated task, but has no idea who in the organization possesses that information, it is a sure-shot recipe for stress and failure. But, if the organization maintains a diagram indicating who has what knowledge and when what knowledge can be beneficial for the goals of the company, it can help in achieving positive results and success. This, as such, signifies the importance of knowledge management.


Transfers Knowledge Amongst Members

Knowledge management ensures that every piece of knowledge and information is shared amongst all employees in the organization. Further, it also seeks to transfer the knowledge to new members entering the company that will benefit the organization as a whole.


Creates Knowledge Repositories

This is similar to an FAQ found on any website. Often, there are some common questions that are raised by employees and outsiders over and over again. Thus, it is better to include the answers to such questions in the FAQ list than assigning one person to re-write and re-explain the same matter through personal emails every time he is raised with that question. With knowledge management, different repositories are created depending upon the needs of the employees, customers, and traders, thereby reducing an individual’s unnecessary workload.


Appropriate Sharing Of Information

Not all knowledge and information can be shared with all members of an organization. Often, just a part of knowledge and facts are required to be shared with certain members. Knowledge management facilitates sharing of information only at the appropriate times and situations with the right people. On the contrary, if the information is passed on to every member, they may become habitual of receiving knowledge and begin leaking it to competitors, which can otherwise prove to be risky and unsafe for the business and organization as a whole.


Recruiting Right Individuals

With the utilization of knowledge management, a company can recruit the right individuals who can provide their right expertise and insight about improving or focusing better on its processes. This knowledge can be shared within the organization to complete a delegated task or project which would have been incomplete without that crucial piece of information not provided by the expert so recruited.

In addition to the above mentioned points about importance of knowledge, these words of wisdom about knowledge will expnad your horizon for sure!

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