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Kavya Project

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“Knowledge has become the key economic resource and the dominant and perhaps even the only resource of competitive advantage.” – Peter Drucker In a globalize economy, knowledge is becoming the greatest asset of organizations. Organizations are recognizing that business excellence can be achieved only with a strong foundation in knowledge. Many times people do described as the information and knowledge. Knowledge can be distributed as the information subjected to judgment and context, while information is nothing bur the processed data and data is the unorganized and unprocessed facts and figures. Events generate data, processed data becomes information, information subjected to judgment and experimentation becomes knowledge and this experience again generates newer events. In India acquiring ‘Gnana’ ( Which in Sanskrit language means knowledge) is the ultimate and the Upanishads talk of the knowledge in various terms. Kalam (2004), former President of India, observed that a knowledge society is one of the basic foundations for the development of any nation. Knowledge Management can be defined as “a systematic process of identifying, capturing and transferring information and knowledge to help make best decision, exploit business opportunities and innovate”. It basically aims to bridge the gap between ‘what an individual knows and what he/she needs t know’ and ‘what an organization knows and what is needs to know’. Knowledge management revolves around the concept that one of the most valuable corporate assets is the experience and expertise floating around inside employee’s heads. In order to manage this intellectual capital, executives must devise a way to capture and share that knowledge with co- workers. If done right, knowledge management is supposed to create more collaborative environment, cut down on duplication of effort and encourage in knowledge sharing – saving time and money in the process.

There is no such formal definition for KNOWLEDGE MANAGEMENT. The term KNOWLEDGE MANAGEMENT (KM) has come to compass the gamut of Organizational processes, responsibilities and systems directed towards assimilation and dissemination, harvest and reuse of knowledge. It can be thought of as a tripod with its three legs defined as follows. 1. CONTENT:

To be able to convert information into knowledge- knowledge that is reliable, available in the right form tailor made for diverse target groups, and which is readily accessible. The knowledge could take diverse forms such as technical contents, business intelligence, approach documents, artifacts, best practices, methodologies, FAQs (Frequently asked question), check list, etc. 2. CULTURE:

To be able to sustain a culture of knowledge sharing both as a process, as well as philosophy. 3. TECHNOLOGY:
To be able to harness the power of technology to make knowledge available on demand. The goals of Knowledge Management (KM) are the same as any management plan: long term organizational viability through the consistent generation of stakeholder’s value. Continuous, rapid and radical change is the characteristic of public and private organization world over. In order to function in this rapidly changing environment new attitudes and approaches within organizations are of great demand for success in this volatile environment. Harvard Business Review 1997 posed the question to Peter. Drucker and Peter Senge: “What problems or challenges do you see already taking shape for business executives as they move into the next century?” Drucker and Senge identified changes that were not technical or rational in nature as much as cultural: how to lead organizations that create and nurture knowledge, and how to maintain, as individuals and organizations, our ability to learn. De Geus also pointed out that “during the past 50 years, the world of business has shifted from dominated by capital to dominate by knowledge” Additionally, there are volumes of research on the... Show More

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