(lecturer at Business Information System Department, Faculty of Information Technology, INSTITUT TEKNOLOGI SEPULUH NOPEMBER, Surabaya Indonesia)
Knowledge-based Economy? is it just buzzword or real. Like it or dislike it nowadays, behind the scene highly competitive business is Knowledge. How well your organization manage knowledge to gain competitive advantages? Knowledge Management is the answer. In this first post I am introducing you what Knowledge Management and Hot it can be very important thing in this Knowledge-base economy.Knowledge management (KM) comprises a range of strategies and practices used in an organisation 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 organisational processes or practice.
An established discipline since 1991 (see Nonaka 1991), KM includes courses taught in the fields of business administration, information systems, management, and library and information sciences (Alavi & Leidner 1999). More recently, other fields have started contributing to KM research; these include information and media, computer science, public health, and public policy.
Many large companies and non-profit organisations have resources dedicated to internal KM efforts, often as a part of their 'business strategy', 'information technology', or 'human resource management' departments (Addicott, McGivern & Ferlie 2006). Several consulting companies also exist that provide strategy and advice regarding KM to these organisations.
KM efforts typically focus on organisational objectives such as improved performance, competitive advantage, innovation, the sharing of lessons learned, integration and continuous improvement of the organisation. KM efforts overlap with organisational learning, and may be distinguished from that by a greater focus on the management of knowledge as a strategic asset and a focus on encouraging the sharing of knowledge. KM efforts can help individuals and groups to share valuable organisational insights, to reduce redundant work, to avoid reinventing the wheel per se, to reduce training time for new employees, to retain intellectual capital as employees turnover in an organisation, and to adapt to changing environments and markets (McAdam & McCreedy 2000) (Thompson & Walsham 2004).