Q1. Define Knowledge Management (KM). Discuss need of KM and various models of its management.
- KM is identifying, creating, sharing, and leveraging knowledge for organizational learning and advantage.
- KM differentiates data, information, and knowledge, focusing on converting tacit to explicit knowledge.
- Need for KM arises from brain drain, rapid change, globalization, and information overload.
- Nonaka and Takeuchi's SECI model: Socialization, Externalization, Combination, Internalization of knowledge.
Answer: Knowledge Management (KM) is a systematic approach to identifying, creating, capturing, storing, sharing, and leveraging knowledge within an organization to enhance organizational learning, improve decision-making, foster innovation, and gain competitive advantage. It transcends mere information management by focusing on both explicit knowledge (documented, codified) and tacit knowledge (experiential, intuitive, residing in people's minds). KM recognizes that an organization's most valuable as...