Refocusing the Concept and Application of Knowledge Management

In the present knowledge vibrant society, there is a need of new knowledge creation and knowledge sharing, storage as well as refinement. Knowledge is vital to any organization and its power. Knowledge management (KM) is a process consisting of the stages; storing, gathering, structuring, sharing, controlling, generating, distributing, codifying, using and exploiting. Knowledge management is not about managing knowledge for knowledge’s sake; the overall objective is to create value and to leverage, improve, and refine the competences and knowledge assets to meet organizational goals and targets. Knowledge management is essentially about getting the right knowledge to the right person at the right time. It places a focus on knowledge as an actual asset, rather than as something intangible. In so doing, it enables the firm to better protect and exploit what it knows, and to improve and focus its knowledge development efforts to match its needs. Knowledge management therefore implies a strong tie to organizational goals and strategy, and it involves the management of knowledge that is useful for some purpose and which creates value for the organization. Knowledge and information are used interchangeably by so many people. Consequently, Knowledge Management solutions even today which are essentially nothing more than information or document management systems, that is which handle data, information, or perhaps even explicit knowledge, but which do not touch the most essential part of knowledge management - tacit knowledge. In addition, Knowledge management basically focuses on the knowledge, understanding, and wisdom and deals with the both codified and uncodified knowledge. Uncodified knowledge may be viewed as the most valuable type of knowledge which is found in the minds of practitioners and is unarticulated, context-based, and experience-based. Management of knowledge in agriculture is much needed in present scenario as there are various players in agriculture and allied sectors, serving the diverse needs of their clienteles on their level. The present paper reviews the knowledge management process and knowledge management cycle with its benefits and importance in organisation, agriculture and allied. Key word: Knowledge; KM Process; KM Concept; KM Stages; KM tools; REVIEW PAPER