Application of Knowledge Management (KM) lie in the below four key areas
● Globalization of Business − Organizations today are more universal i.e., they are operating in multiple sites, multilingual, and multicultural in nature.
● Leaner Organizations − Organizations are adopting to a lean strategy where they understand customer value and focus on key processes to continuously increase it. The ultimate goal is to provide perfect value to the customer through a perfect value creation process that has zero waste.
● Corporate Amnesia − We are freer as a workforce, which creates issues regarding knowledge continuity for the organization and places with continuous learning demands from knowledge worker. We no longer expect to spend our entire work life with the same organization.
● Technological Advances − The world is more connected with the advent of websites, smart phones and other latest gadgets. Advancements in technology has not only helped in better connectivity but also changed expectations. Companies are expected to have online presence round the clock providing required information as per the customer needs.
Knowledge Management serves as one of the major response to the challenge of trying to handle this complex, information overloaded work environment. As such, Knowledge management is perhaps best clustered as a science of complexity.
