Knowledge Management (KM) houses the systematic management of an organization’s knowledge assets for the purpose of creating value and meeting tactical and strategic requirements which consists of the initiatives, processes, strategies and systems that sustain and enhance the storage, assessment, sharing, refinement, and creation of knowledge.
KM is created to teach the technical foundations processes of acquiring, creating, developing, sharing, using and managing the knowledge and information of a firm to achieve organizational objectives by applying the best use of knowledge. Knowledge management professionals are therefore able to develop a comprehensive and standard framework for designing and implementing workable knowledge management strategies for enhancing the intellectual assets of an organization. KM cuts across the fields of business administration, information systems, management, computer science, public policy, library and information and media sciences.
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