Sample Essay

Knowledge management is basically the phenomenon of generating value for the intellectual and knowledge based assets of the organization. Codifying and knowing what employees, partners and managers know and then sharing this information with all the members can be taken as an example of knowledge management. Knowledge management helps the organization in predicting its future. As Albert Einstein said “Imagination is more important than knowledge. For while knowledge defines all we currently know and understand, imagination points to all we might yet discover and create.” (Jone Johnson Lewis, 2009)

A simple advice by a subordinate can change the entire organization and can benefit the organization in short and the long run. In the current era knowledge management systems are developed by different organization s and step two designers won the open tender to develop a knowledge management system in October 2000. The developers developed a project that was based on providing improved service and information to the customers, reduce the training costs and reduce average call handling time. This KM system helped Newcastle Call center is achieving its objectives (Robertson, 2001).

As the baby boomers are retiring in the coming decade the phenomenon of KM has assumed a greater level of urgency in the American business. Similarly, a hefty amount of baby boomers turned 60 in the year 2005 and many individuals of this age group are deciding to retire soon. Their knowledge and years of experience in their respective companies can be treated as an asset and it must be organized and sharing this knowledge with other members of the organizations would be beneficial for the organization (Levinson, 2009). That is the reason why managing information is considered to be an important element for organizations.

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