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In today's fast-changing global marketplace, success
is no longer tied to the traditional factors of production -
labor, capital or land. The new critical resource is knowledge.
What an organization knows - and how it leverages that knowledge
- has never been more essential for success. Knowledge Management
(KM).
Unlike Land, Labor and
Capital, Knowledge does not diminish with use. In fact, when
knowledge is used, shared, applied, or managed it increases.
Knowledge Management (KM) is a discipline
to systematically leverage expertise and information to improve
organizational efficiency, capability, responsiveness, innovation
and compliance. The organizations that become best at this will
ultimately dominate the markets they serve, because mastery of
"leveraging what you know" is really about creating
and managing the one true sustainable competitive advantage in
the 21st century - knowledge.
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