Knowledge management approach Essay Example | Topics and Well Written Essays - 2500 words

Knowledge management approach - Essay Example Knowledge management implies any activity regarding the capture and the diffusion of knowledge within the organization. A key component of KM is to provide access to stored knowledge components in order to improve decision-making and facilitate knowledge acquisition by the user. The present essay is an attempt to introduce this innovative capital of modern organisations in a simple and lucid style. In the essay, the writer first, tries to distinguish the related concepts in the area of knowledge such as data, information etc, which are often misunderstood (used interchangeably with) as knowledge. In addition, an attempt is made to introduce the two approaches to knowledge management that capture and utilize knowledge. The essay prepared to examine the different of these two approaches. Specifically, it attempts to narrate the definition of these approaches and portrays both advantages and disadvantages of these two approaches. Finally, rather most importantly the report demonstrates how to apply theoretical concepts of knowledge management to NASA's JPL case study. One of the essentials of an effective knowledge management system is that the system must be able to distinguish knowledge from data and information so that information overload can be reduced/eliminated and its efficiency can be improved. An efficient knowledge management system accepts only those data that are relevant, timely, reliable and accurate. In the words of Liew (2002) data means the collection of facts or events and it is comprised of the basic, unrefined and unfiltered information, which are mostly useless. But, information is more refined data that is useful and meaningful for an analysis and decision making. In contrast, knowledge resides in the human brain and it happens when human experience is applied to data and information, therefore, knowledge is internalized which absorbed and understood by the human mind. In the modern business context, knowledge management can have a lot to perform to attain a competitive edge and thereby create value to the organisation. Knowledge management There are many interpretations as to what exactly knowledge management is all about. The definition put forward by Quintas P., Lefrere P. and Jones is worth notable in this context. They define knowledge management as "a continuously process of managing knowledge in order to ensure that knowledge is available when and where needed and can be acquired both from external sources and internal sources" (Quintas et al, 1997). It is worthwhile here to mention the definition developed by NASA for knowledge management. NASA defines "knowledge management as getting the right information to the right people at the right time and helping people create knowledge and share and act upon information in ways that will measurably improve the performance of an organization and its partners" (NASA, 2009). The procedures by which the objectives of KM can be accomplished include the following: As far as possible, everyone connected with knowledge management system should disclose what he/she knows and thereby facilitates knowledge sharing and its reuse. This will allow others to know when and where knowledge is available. Knowledge is made available at the time of decision making and it is the duty of the concerned personnel in an organisation that knowledge is