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Definition of Knowledge Management:

Knowledge management is identifying, analysing, capturing, categorizing, and retaining the knowledge and expertise of the employees in the organization. This is critical while improving the efficiency and effectiveness of the organization. It gives us the ability to access the knowledge at the right time, thereby helping with decision making and collaboration. It lets you know how to redistribute, obtain resources, and share skills, so that your organization performs at its best. 

In simple words, with knowledge management, next time if you want to know who is the best manager to head the new product or a specialist to help with a marketing campaign you will already have a list of folks with a proven record, and the documentation that is necessary to train people.

 

Different types of Knowledge: 

For an effective knowledge management strategy, you need to know the types of knowledge, they are:

  • Explicit knowledge: This includes FAQs, reports, pie charts, diagrams and slide decks that are structured, easily documented and can be shared at scale. This knowledge is shared with customers, investors, or teams to help make an informed decision or get a job done. 
  • Implicit Knowledge: It is knowledge gained or the know-how while doing the activity and to be able to use it for another purpose. This knowledge is not usually documented and scaled, but can be passed on, while doing the activity. 
  • Tacit knowledge: It is the unspoken, often understood knowledge that is shared in an organization. It could be about workplace etiquettes, or best practices while using a tool and so on. 

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