Key Facts About Knowledge & Knowledge Management


  1. Knowledge comes from people.
  2. Knowledge is an intangible organizational asset that needs to be managed like any other asset. It needs to be developed, consolidated, retained, shared, adapted, and applied so that workers can make effective decisions and take aligned actions, solving problems based on the experience of the past and new insights into the future.
  3. Knowledge adds value when it contributes to something that matters, such as goals or performance.
  4. Knowledge is a key source of value for organizations to meet their objectives. The determinable value of knowledge is in its impact on organizational purpose, vision, objectives, policies, processes, and performance.
  5. Valuable results are derived from applied knowledge. Organizational knowledge is becoming a key differentiator for effectiveness, increased collaboration and competition.
  6. Knowledge Management (KM) focuses on managing the working environment.
  7. Culture is critical to the effectiveness of knowledge management.
  8. Knowledge Management is a means of unlocking the value of knowledge. There is no one-size-fits-all KM recipe.
  9. Knowledge Management should include interactions between people to develop shared understanding.
  10. Don’t try and implement KM in ore giant leap. Knowledge management should be phased, incorporating learning and feedback cycles. Take it slowly and learn as you go.
  11. Knowledge management is a discipline focused on ways that organizations create and use knowledge.
  12. Knowledge management has no single accepted definition and no global standards predate this management system standard.
  13. Knowledge management is a means of unlocking the potential value of knowledge.
  14. Knowledge management is a holistic approach to improving learning and effectiveness through optimization of the use of knowledge, in order to create value for the organization.
  15. Knowledge management supports the existing process and development strategies. As such, it needs to be integrated with other organizational functions.
  16. There is no one knowledge management solution that fits all organizations within all contexts. Organizations may develop their own approach to the scope of knowledge and knowledge management and how to implement these efforts, based on their needs and context.
  17. People create their own knowledge by their own understanding of the input they receive. For shared understanding, knowledge management should include interactions between people, using content, processes, and technologies where appropriate.
  18. Knowledge is not managed directly; knowledge management focuses on managing the working environment, thus nurturing the knowledge lifecycle.

The importance of knowledge management



Article ID: 242
Created: July 11, 2020
Last Updated: July 11, 2020
Author: Ajay Chadha [support@phpkb.com]

Online URL: https://www.phpkb.com/kb/article/key-facts-about-knowledge-knowledge-management-242.html