Enhancement of Human's potential through Knowledge Management

Knowledge management (KM) comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. Knowledge management is essentially about getting right knowledge to right person at right time. It is about making sure that an organization can learn, and that it will be able to retrieve and use its knowledge assets in current applications as they are needed. In words of Peter F.Drucker it is the coordination and exploitation of organizational knowledge resources, in order to create benefit and competitive advantage (Drucker 1999). Knowledge management may also include new knowledge creation, or it may solely focus on knowledge sharing, storage, and refinement. It is important to remember that knowledge management is not about managing knowledge for knowledge's sake; overall objective is to create value and to leverage, improve, and refine firm's competences and knowledge assets to meet organizational goals and targets. However, Knowledge Management (KM) is a concept not accepted universally.