Knowledge: (Collier’s Encyclopedia Dictionary) 1. Familiarity, understanding, awareness, or information acquired through experience, study, or observation. 2., Fact of knowing. 3., that which is or can be perceived or learned. 4., some or range of that which is or can be perceived or learned. 5., specific information or fact concerning a given matter.6., to (the best of) one’s knowledge.
(Concise Oxford American Dictionary) 1., Facts, information, and skills acquired by a person through experience or education; the theoretical or practical understanding of a subject. What is known in a particular field or in total; facts and information. True justified belief; certain understanding, as opposed to opinion. 2., Awareness or familiarity gained by experience of a fact or situation.
Management: (Collier’s Encyclopedia) 1.Act, art, or practice of managing 2.a. person or persons who manage a business, institution, or other enterprise.2.b. such persons collectively, especially in relation to workers or unions.
(Concise Oxford American Dictionary) 1. The process of dealing with or controlling things or people. The responsibility for a control of a company or similar organization. The people in-charge of running a company or organization, regarded collectively.
Knowledge Management “cultivating a learning culture whose organizational members systematically gather knowledge and share it with others in the organization so as to achieve better performance. [i]”
Thus, Knowledge Management is the process of K.nowing N.ecessities & O.pportunities W.idely spread L.eading to E.conomic D.evelopment & G.eneral E.volution through M.utual A.lignment to N.urture, A.dapt & accommodate thus ,G.etting results close to plans E.nthusiastically &, M.anaged E.ffectively by N.avigating T.alents & Technologies. Notice the bold letters can be utilized as acronym as this unique definition is formulated deliberately.
As Robbins puts it an organization is “a deliberate arrangement of people to accomplish some specific purpose .ii” These specific purposes are of doing business activity in ways that meet a target market needs resulting in popularity, profit & prosperity iii. Secondly, with respect to the organization, which itself being assembled with deliberate strategic decisions can survive, let alone prosper, only if & when all its managerial levels as well as operation systems nurture a culture of appropriately collecting, organizing & sharing relevant information timely. This obviously includes technology developments & personnel trainings for resourcefulness with lesser possible costs. Only in this optimal combination of planning, organizing, leading & controlling processes of management results in effective teams & thenceforth to efficient performances, production & profits.
Knowledge Management covers the entire organization no matter what the structure is. Broadly speaking, there are simple, complex & not for profit varieties of organizations. Even if the business entity is a sole proprietorship one , it does need an outsource team varying from suppliers of raw materials or packaging end product for distribution as well as cash recovery.
With complex structured organizations additional activities involve Research & Development, Managing in-house personnel & procedures, stakeholders, Finance Departments & transaction, Strategic management & Marketing management to name a few.
[i] , ii Management,by Robbins, Stephen P. and Coulter, Mary, eight edition.
iii Concise Oxford American Dictionary
Collier’s Encyclopedia Dictionary
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