Knowledge management

Definitions of data, information and knowledge Knowledge is defined by the Oxford dictionary as the expertise and skills acquired by a person through experience or education; the theoretical orpractical understanding of a subject.
Some philosophers have defined criteria for there to be knowledge. Plato for example says that a statement must be justified, true and believed in order to countas knowledge, but some others say that this is not enough and have added other criteria to be met. By now, we’ll stay with the definition of the Oxford dictionary.
Knowledge Management(KM)
As we saw before, Knowledge is defined by the Oxford dictionary as the expertise and skills acquired by a person through experience or education; the theoretical or practical understandingof a subject.
Knowledge Management is the range of practices that organizations use in order to generate, share, identify and foster the acquirement of knowledge.
Some of these practicesinclude courses in the field of business administration, management, information systems, computer science, public policy, etc. These practices are usually part of the Business Strategy, InformationTechnology and Human Resources departments and the higher impact can be seen in objectives regarding performance, innovation, continuous improvement, etc.
Knowledge management efforts in an organizationcan reduce training time and repeated work and can help individuals and groups to share valuable “know-how” and to adapt to changing environments.
As some sources say, knowledge management interesthas grown in the recent years and it’s been attributed to causes like:
Globalization. Many organizations see knowledge as their base to create competitive advantage and by keeping it availableand spread through the company they foster the access to the best knowledge and expertise available in the company.
Knowledge can enhance the value of products. An example is “Targeted...