Knowledge Management

It has been extensively identified that knowledge is an important
aspect for an economy to develop. We are seeing a lot of
transformation rapidly happening in our society. Every day we are
seeing that we are becoming more and more dependent on knowledge. If
this is the case with our societies, the scenario is not much
different for organizations. Nowadays, if top management is asked to
underline a single resource which is most critical for their
organization to achieve and sustain competitive advantage, most of
them will be selecting - "Knowledge". With such an importance to
knowledge, managing it has become a serious concern for organizations.
An organization which can built excellent process to manage knowledge,
certainly will have a competitive edge over its competitors.

Agreeing on the existing concentration by organizations and the
character of extreme competition, a critical activity taken up by them
is knowledge management.

Knowledge Activities
Knowledge management (KM) cannot be achieved with a single definite
activity. It involves an assortment of activities. These are usually
referred to be knowledge activities. The utilization of the knowledge
activities at the resources connected to knowledge which is limited
and assisted through an extensive choice of aspects will result in KM.

Research studies do indicate a number of knowledge activities which
are important. Some of them are as below:

Knowledge Acquisition
Knowledge Utilization
Knowledge Selection
Knowledge Transfer
Knowledge Creation
Knowledge Internalization
Research studies indicate that knowledge transfer deserves the most
careful attention among these activities so that the organizations can
manage knowledge successfully.

Knowledge Transfer
The conveying of knowledge from one member to another member of
organization involves knowledge transfer. Though this is a simplified
definition, knowledge transfer itself is a complex process. First of
it has to be noted that the knowledge conveyed is correct and also it
should reach the proper member of the organization. In addition, the
timing and form of the knowledge which is conveyed should also be
accurate. Above all these aspects, the expense of this conveyance
should be within acceptable limit. When all these are achieved, the
knowledge transfer can be termed as successful. So as to garner
profits of knowledge management, it is critical that knowledge
transfer has to be done successfully.

In the existing phase where technologies are rapidly developing to
share information, organizations are giving more emphasize to
knowledge transfer. In addition to this, it must be noted that the
created knowledge will help to attain improved performance for an
organization when the transfer process takes place. There is no use in
keeping the knowledge at the originating location. It has to be passed
to the location where it can be exploited to the advantage of
organization. Such an exploitation generates value for the
organization, which in turn, bring to it the required competitive
advantage. So, it is essential that an organization has to put firm
foundation for the process targeted at achieving knowledge transfer.