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KM Life Cycle - Coggle Diagram
KM Life Cycle
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Topic 1: Overview of KM
Type of Knowledge
Tacit: Experience, Thinking, Competence, Commitment and Deed
(Subjective and experiential knowledge that is not expressed(in words))
Explicit: Data, Document, Information (Objective and rational knwoledge express in words)
Important of KM
- Growing awareness of the importance of knowledge to organizational success
- Information and knowledge have become key drivers for competitive advantage
- The building of knowledge generation capabilities within the firm creates an organization with the flexibility to meet new challenges
Benefits of KM
General: Enhance individual, team, and organizational capability and thereby increase social capacity
Individual: Increase knwoledge and skills
Team: Enhance entire team's capability
Organization: Achieve sustainable growth and competitve advantage
Society: Collective knowledge of individuals and organization
Need for KM
- Loss of knowledge
- Unable to acquire information when needed
- Decision making process has to be postponed
- Losing competitive advantage
- Collecting necessary information
- No record of methodology used to solve the problem
- Best practices are not being captured and shared
- Contextual confusion
Goal of KM
- Managing knwoledge as asset
- Data warehouse
- Storage of knowledge
- Sharing of knowledge
- Converting knowledge into profit
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