Define knowledge management. How is it different from information management? What are the key components of any

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Define knowledge management. How is it different from information management? What are the key components of any knowledge management system?

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Knowledge management involves the process of identifying capturing organizing and using knowledge assets to create and sustain competitive advantage Knowledge management differs from information management inthat information management is focused on data whereas knowledge management is focused on information A knowledge management system allows intangible information to be managed as an organizational asset in a manner similar to tangible assets An effective knowledge management system should include the following A way of capturing and organizing explicit as well as tacit knowledge of how the business operates including an understanding of how current business processes function A systemsapproach to management that facilitates assimilation of new knowledge into the business system and is oriented toward continuous improvementinnovation systems approachA common framework for managing knowledge and some way of validating and synthesizing new knowledge as ...View the full answer

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