Strategic Importance of Knowledge Management Essay -- Philosophy Knowl

Strategic Importance of Knowledge worryToday the land has more(prenominal) and more of free flow of randomness leading to fare of noesis from a person or an organization to others. Whereas this invariably leads to scurrying development, it in like manner impacts the competitive advantage held by the innovators of processes or technology. It has therefore plough strategicalally important for one and all in business to transform the noesis, processes and controls to effectively manage thesystem of sharing and transferring the information in the nearly beneficial fashion.This paper dwells upon definition, types, scope, technology and modeling of experience and Knowledge Management while examining its strategic importance for retaining the competitive advantage by the organizations. What is cognition?Plato first defined the concept of knowledge as justified accredited belief in his Meno, Phaedo and Theaetetus. Although not very accurate in cost of logic, this definition has been predominant in Western philosophy (Nonaka and Takeuchi, 1995). Davenport et al. (1998) define knowledge as information combined with experience, context, interpretation and reflection.The terms knowledge and information are often used inter-changeably in the literature and praxis alone a distinction is helpful. The chain of knowledge flow is entropy-information-knowledge. development is data to which meaning has been added by being categorized, classified, corrected, and condensed. Information and experience, key components of definitions of knowledge, are send into categories through the process of labeling with abstract symbols. This allows the process of synthesis to occur more efficiently than when dealing with masses of individual bits of information. Information coded into symbols to make it knowledge may be stored both inside and foreign the individuals. Thus, knowledge may be stored within a person in his mind or outside the person in books, manuscripts, pictu res, and audio and videotapes or discs. However, while that the individual himself may retrieve knowledge stored within his mind, knowledge stored outside can be retrieved by anybody familiar with the storage systems.In organizations, knowledge is often embedded not only in documents and presentations but also in organizational routines, processes, exerts, and norms, and through person-to-person cont... ...ress, New York, NY.Schultze, U. and Boland Jr, R.J. (2000), Knowledge precaution technology and the reproduction of knowledge work practices, Journal of Strategic Information Systems, Vol. 9, pp. 193-212.Stoner J.A.F., Freeman R. E. and Gilbert D.R. (2004) Management, Pearson Education, U.K.Swan, J. and Newell, S. (2000), Linking knowledge management and innovation, in Hansen, H.R., Tissen, R., Andriessen, D. and Depres, F.L. (2000), The Knowledge Dividend, Financial Times and Prentice Hall, London.Van Buren, M. (1999), A yardstick for knowledge management, Training and Devel opment Journal, Vol. 53 No. 5, pp. 71-8.Wagner, E. (2000), Communities of practice the structure of knowledge stewarding, in Despres, C. and Chauvel, D. (Eds), The Present and the Promise of Knowledge Management, Butterworth-Heinemann, Boston, MA, pp. 205-24.Wheelen T.L. and hunger J.D. (2004) Strategic Management and Business Policy, Pearson Education, U.K.Winter, S.G. (1987), Knowledge and competence as strategic assets, in Teece, D.J. (Ed.), The Competitive Challenge Strategies For Individual Innovation and Renewal, Ballinger, Cambridge, MA, pp. 159-84.