Knowledge management is the process of creating, sharing and retaining organizational knowledge and information.
The management of knowledge is the concern of almost every Manager. Questions arise such as where is information created? Where is it stored? Is it accessible by all who need it?
There are two main causes for this concern. Today, more knowledge workers are in the workforce than ever before. Hence the value of information and the risk of losing it are higher.
Secondly, there are more people exiting the organization than before. This is due to an aging workforce and due to gen Y and the millennials. Compare to any other generation, generation Y and millennia’s have a higher job-hopping rate. Both points increase the frequency of organizational exits and the risk of knowledge loss.
Information at risk of loss may include:
How best to deal with customers;
Record this information to easily share and retain it. Hence resulting in better knowledge management.