Knowledge management (KM) comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. Such insights and experiences comprise knowledge, either embodied in individuals or embedded in organizations as processes or practices.
What Are The Benefits Of Knowledge Management Tools
First of all we say, imagine knowledge as a fuel and energy source for your business, a power source. Imagine the use of other power sources such as electricity or gasoline. What are the uses ? What are the potential Benefits ? The list of possible benefits is endless. You can productively use oil and electricity for all sorts of practical, common-sense things. So too with Knowledge, Intellectual Capital, and Intangible Assets.
They can be used productively and profitably by your business in myriad ways. We have barely begun to scratch the surface of possible ways to harness knowledge-energy. The attractive incentive to the intelligent business person is that those who can figure out to leverage this asset in new and creative ways, can gain a serious sustainable competitive edge in the market-place.
Then, there are contemporary projects such as the Human Genome Project. In effect, this is a big global knowledge-mapping exercise, to map all the genes in the human body. Clearly it is going to unleash a knowledge-based revolution of extra-ordinary magnitude and importance..
It will have a tremendous impact on the life sciences, medicine, biotechnology, pharmacology and so on. So how can knowledge be beneficial ? Any number of possible ways.