Knowledge Management: An Emerging Managerial Practice

Concept paper on knowledge management:
Project concept: an emerging managerial practice.

Knowledge management There has been a growing interest in treating knowledge as a significant organisational resource
Added At: 2010-12-11 10:04 PM Last Updated At: 2010-12-05 10:04 PM * * * * * BISHAL SHRESTHA bizschoolfunda KATHMANDU: Recently we conducted the business plan presentations for EMBA students at Club Himalaya, Nagarkot and one of the plans was on Knowledge Management, which I found pretty interesting.

In the words of Peter Drucker, “Knowledge has become the key economic resource and the dominant — and perhaps even the only — source of comparative advantage.” The future of organisations will now depend on how well this concept is understood and how effectively knowledge is managed and used as a tool to leverage their competitive stance. In the past, there has been a growing interest in treating knowledge as a significant organisational resource. Consistent with the interest in organisational knowledge and knowledge management (KM), information systems (IS) researchers have begun promoting a class of IS,

referred to as knowledge management systems (KMS).

The objective of KMS is to support creation, transfer, and application of knowledge, both tacit (insights and experiences) and explicit (processes and policies, etcetera), in organisations. Basically, there are eight categories of knowledge-focused activities done in any organisation:

• Generating new knowledge

• Accessing valuable knowledge from external sources

• Using accessible knowledge in decision making

• Embedding knowledge in processes, products and /or services

• Representing knowledge in

documents, databases and software

• Facilitating knowledge growth

by setting up a culture and through

incentives

• Transferring existing knowledge into other parts of the organisation

• Measuring the value of

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