Explain the concept of knowledge management Write a paragraph highlighting the evolution of knowledge management and how knowledge management can help the organization in present day competitive world How is tacit knowledge different from explicit knowledge Why is it important for the organization to capture both Tacit as well as explicit knowledge

Question: Explain the concept of knowledge management. Write a paragraph highlighting the evolution of knowledge management and how knowledge management can help the organization in present

Explain the concept of knowledge management.
Write a paragraph highlighting the evolution of knowledge management and how knowledge management can help the organization in present day competitive world.
How is tacit knowledge different from explicit knowledge? Why is it important for the organization to capture both Tacit as well as explicit knowledge?

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Knowledge Management KM Knowledge Management is a systematic and strategic approach to identifying capturing organizing and leveraging an organizations intellectual assets including both explicit and tacit knowledge It involves the creation of processes systems and cultures that facilitate the generation sharing and application of knowledge to achieve organizational goals and enhance competitiveness Evolution of Knowledge Management The concept of Knowledge Management has evolved over the years initially emerging as an ITdriven approach in the 1990s and later maturing into a broader organizational strategy Early efforts focused on creating repositories for explicit knowledge such as databases and document management systems However the evolution of KM now encompasses a more holistic understanding acknowledging the importance of tacit knowledge social interactions and organizational culture Knowledge Management in the Competitive World In todays competitive business environment where information flows rapidly and innovation is a key differentiator effective Knowledge Management is essential Organizations that leverage their collective intelligence and capitalize on both explicit and tacit knowledge gain a competitive edge KM enhances decisionmaking accelerates problemsolving fosters innovation and promotes continuous learning positioning the organization ... View full answer

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