Knowledge management is an important part of Human Resource Management which aims at sharing knowledge, skills and expertise among all the employees. In the competitive market, it has been very much necessary for all the employees to be updated with the latest knowledge and skills; knowledge management facilitates the same.
Knowledge-based in an organization which believes
These kinds of organizations emphasize the importance of knowledge sharing and re utilization of the existing processes or ideas.
Importance of Knowledge Management
An organization’s success increasingly depends on the knowledge, skills, and abilities of employees, particularly as they help establish a set of core competencies. Sustainable competitive advantage can be gained through proper skill sets and talents.
In the current world economy, greater knowledge and skill is growing rapidly along with the rapid changes in technologies and new inventions. Every individual has some skills that are unique. These skills have to be identified and made known to others so that others can get benefited. Similarly an employee can get information about something which is new and not known through proper knowledge management and knowledge sharing.
The main goals of Knowledge management are as follows
Benefits to the employees
The main drawbacks of knowledge management are that we cannot have all the knowledge required for everyone in a common place at any point of time and repetition becomes an issue most of the time. Sometimes the quality of knowledge is compromised and copyrights are violated to achieve individual submission targets.