Knowledge Management

Knowledge Management

Copyright: © 2007 |Pages: 17
DOI: 10.4018/978-1-59904-060-8.ch002
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Knowledge is an important organizational resource. Unlike other inert organizational resources, the application of existing knowledge has the potential to generate new knowledge. Not only can knowledge be replenished in use, it can also be combined and recombined to generate new knowledge. Once created, knowledge can be articulated, shared, stored and re-contextualized to yield options for the future. For all of these reasons, knowledge has the potential to be applied across time and space to yield increasing returns (Garud & Kumaraswamy, 2005). The strategic management of organizational knowledge is a key factor that can help organizations to sustain competitive advantage in volatile environments. Organizations are turning to knowledge management initiatives and technologies to leverage their knowledge resources. Knowledge management can be defined as a systemic and organizationally specified process for acquiring, organizing, and communicating knowledge of employees so that other employees may make use of it to be more effective and productive in their work (Kankanhalli et al., 2005). Knowledge management is also important in inter-organizational relationships. Inter-organizational relationships have been recognized to provide two distinct potential benefits: short-term operational efficiency and longer-term new knowledge creation. For example, the need for continual value innovation is driving supply chains to evolve from a pure transactional focus to leveraging inter-organizational partnerships for sharing information and, ultimately, market knowledge creation. Supply chain partners are engaging in interlinked processes that enable rich (broad-ranging, high quality, and privileged) information sharing, and building information technology infrastructures that allow them to process information obtained from their partners to create new knowledge (Malhotra et al., 2005).

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