KNOWLEDGE MANAGEMENT PRACTICES AND ORGANISATIONAL SUCCESS

Abstract

Knowledge is the vehicle for any productive economy, knowledge resides in the individual as tacit knowledge and in machine and database of organization as explicit knowledge. Knowledge management starts with the collection of data, or information.  Knowledge is tactically created, evaluated, transferred or stored.  This paper highlights the concept of knowledge management strategies: essential tools on organizational success.  Various component of knowledge management were discussed. This includes the people, process, technology and with an effective organizational culture. The paper also pinpoint on the key question in implementing knowledge management strategy which are; where are we now? Where do we want to be? How do we get there? This is why most of the authors define knowledge management strategy according to the organizational structure. Knowledge management as an essential tool for organizational success gives a clear roadmap on how data or information can be retrieved from the individual, evaluated and transferred or stored in the database.  Knowledge is an asset to organization, and it is a competitive edge over the competitors because of this people or organization are not ready to give out necessary because of its value.  Many authors have erroneously indicated that knowledge identification, creation, evaluation and transfer as knowledge management strategy. Knowledge management strategy is the tactical use of technology. People, technology and the process equal to knowledge management. The development of knowledge management strategy is based on the organizational strategy.