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Lecture 1: Overview of Knowledge Management (KM) - Coggle Diagram
Lecture 1: Overview of Knowledge Management (KM)
Benefits of KM
Individual
Increase knowledge and skills
Able to contribute to organizational capability and social capability
Positive attitudes, strong moral and ethical values
Society
Able to stimulate the creative potential to seize opportunities for growth and development
Societal capacity
General
Contribute to profitability and growth
Enhance individual, team and organizational capability
Increase social capacity
Improve the quality of products and services
Spur overall productivity
organization
Focusses on these aspects to achieve sustainable growth and competitive advantage
create, reorganize, disseminate widely and embody knowledge in new products and services
Type of Knowledge
Explicit Knowledge
Files
Record
Documents
Tacit Knowledge
Ideas
Opinion
Experience
Goals
Storage of Knowledge
Sharing of Knowledge
Data warehouse
Converting Knowledge into profit
Managing knowledge as an asset
Data
A set of discrete, objective facts about events information
Knowledge
Process of translating information and past experience into a meaningful set of relationships which can be applied by an individual
Information
A message; in the form of a document or an audible or visible communication
Definition
Effective learning processes associated with exploration, exploitation and sharing of human knowledge (tacit and explicit) that uses appropriate technology and cultural environments to enhance an organization's intellectual capital and performance
The need of KM
No record of the methodology used to solve the problem
Unable to acquire information when needed
Outdated information
Losing competitive advantage
Best practices are not being captured and shared
Collecting the necessary information becomes a project itself
Slow or erroneous information transfer within organization
A decision making process has to be postpones
Loss of Knowledge