Experiential Perspective on Knowledge Management

Abstract

The last few decades have seen a growing proportion of organizational wealth being represented by intangible assets, i.e., assets with value that cannot be measured in terms of any physical attribute. Management thinking, conditioned over centuries to extract the greatest value out of physical assets, has had to bring within its ambit the leveraging of these intangible assets in building the capabilities required to deliver superior products and solutions. The discipline of knowledge management (KM) was born and came to encompass the gamut of organizational processes, responsibilities, and systems directed toward the assimilation, dissemination, harvest, and reuse of knowledge. In simpler terms, KM is the answer to the question, “How can the organization update and use its knowledge more effectively?” (Kochikar, 2000).