The Importance Of Knowledge Management

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With the rapid changes of technologies environment, organizations have to continually redefine their product offerings if they want to stay ahead in the competitive race. Realizing that, implementing successful knowledge management becomes a vital issue in many organizations and it’s able to attract attention from both academicians and practitioners.
There are various definition used to describe knowledge management and its processes. Gupta, Iyer and Aronson (2000) defined knowledge management as process that helps organizations to find, select, organize, disseminate, and transfer important information and expertise essential for activities such as problem solving, dynamic learning, strategic planning and decision making. As stated by McCampbell, Clare and Gitters (1999) taken from Manasco (1996), define knowledge management as the strategies and processes of identifying, capturing and leveraging knowledge to enhance competitiveness. Knowledge management leveraging on knowledge in order to sustain competitive advantage, create, develop, use and re-use knowledge for the purpose of innovation.
According to Kalkan (2008) taken from Nonaka and Takeuchi (1995); Davenport and Prusak (1998); Hall and Paradice, (2005) stated that knowledge management is currently receiving great attention from both academics and practitioners. Ratcliffe-Martin, Coakes and Sugden, (2000) stated that knowledge management has become key domain for both practitioners and management researchers.
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