Knowledge is power and it makes an individual grow mentally and emotionally. Knowledge management plays a vital role in the up bring of an organization. Knowledge management in an organization is the capture of knowledge in a systematic way and using it for the progress. Knowledge allows an organization to recognize, create and distribute knowledge. When each employee of an organization contributes his part of knowledge in the knowledge pool, there forms a big one that helps the organization in realizing the right path towards success.
Knowledge can provide many competitive advantages to both the employee and the organization. Application of correct knowledge at the right situation helps an organization to make prime decisions. Knowledge management is a difficult task and the process of knowledge management can be divided into many categories. They are creating a favourable environment, capturing right knowledge, refining the collected knowledge, storing it in an effective way, tagging it and circulating it. Knowledge is not measurable. Even a small piece of knowledge will be helpful if it is used in the right way. In organizations a favourable environment should be made to capture knowledge in an effective way. After capturing the knowledge, it should be refined and stored for future purpose. The refined information can be circulated within the organization to educate employees and authorities.
In an organization the structure of knowledge management system depends on the strategy adopted for business. Based on the structure and strategy adopted, the knowledge management system developed in organizations can be as follows:
- Group share
Here team member of different group come together and share their knowledge.
- Expert talk
A person who is an expert of a particular topic will talk about it.
- Sharing points
Authorities and employees share their knowledge and ideas.
- Decision support system
This system enables CEO and managerial personals to take decisions based on the options provided.
- Managing data base
The collected knowledge is stored in an electronic format. This will help in circulating it and checking it whenever necessary.
Knowledge about a business, its strength and weakness allows an organization to grow and emerge as the leader.