Knowledge management implications

Knowledge management is a general concept applied to almost any project that an organization undertakes, which is meant to transfer, share and exploit knowledge from one part of the organization to another. Most of the companies are already involved in knowledge management, even if, often, it is done informally and implicitly. The goal of a formal knowledge management program is just to make knowledge marketplaces to become more efficient. Many organizations are recognizing that the ownership of knowledge creates an important competitive advantage. Quite simply, the lack of a knowledge management program means that they are losing money or opportunities. The easiest kind of knowledge management project to justify is the ‘knowledge base’. A knowledge base is something that attempts to make the knowledge marketplace more efficient by making explicit knowledge easier to access. Projects that aim to facilitate the transfer of knowledge work best when organizations recognize how the existing knowledge marketplace operates, so that they can work within it.