What is KM (Knowledge Management)

This is a term that has many meanings. It includes deliberate efforts to maximize an organization’s performance through creating, sharing, and leveraging knowledge and experience from internal and external sources (http://www.upstreamcio.com/glossary.asp). A fundamental concept of knowledge management is that it is a vital resource that can determine the competitive advantage for a company in today’s economy. One aspect of knowledge management is to focus on the diffusion of tacit institutional knowledge, which refers to cognition or internal knowledge that resides inside the heads of workers. For example, the use of knowledge management is a way an organization can capture the best practices from key employees with long institutional knowledge about processes and procedures within a company