Knowledge And Management: The Importance Of Knowledge Management

985 Words4 Pages
Learning will improve the performance and it can be knowledge, new insights and actions (Fiol & Lyles, 1985). Knowledge management is so important because it can help organizations to gain and sustain competitive advantage and improve performance (Holm & Olla, 2006). A famous engineering consultancy, Ricardo, as a leader in the motor industry and engine engineering business. According to develop and manage knowledge assets from 1917, most the major motor manufacturers worldwide are provided the unique knowledge services and products by Ricardo. Now, Ricardo built its’ core competence over rivals by the unique and high quality of knowledge-processing work. In addition, an open culture of Ricardo enhance the communication and knowledge-sharing (Ward, 2007). Thus, knowledge is important for organizations to improve and sustain performance. The essay will show three parts that organizations should focus on different degrees of learning, the key requirements that should be focused on when employees share their knowledge, and why the culture of learning is so important for an organization to gain and sustain a competitive advantage. To begin with knowledge, knowledge is a combination between data and information, and is a power for each person (Uriarte, 2008). Organization should be focus on knowledge management. Knowledge management refers to share the knowledge within the organization by the process that transfer knowledge from tacit to explicit. Tacit knowledge means people
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