Knowledge management (KM) is the collection of methods relating to creating, sharing, using and managing the knowledge and information of an organization. It refers to a multidisciplinary approach to achieve organizational objectives by making the best use of knowledge.
An established discipline since 1991, KM includes courses taught in the fields of business administration, information systems, management, library, and information science. Other fields may contribute to KM research, including information and media, computer science, public health and public policy. Several universities offer dedicated master's degrees in knowledge management.
Many large companies, public institutions, and non-profit organisations have resources dedicated to internal KM efforts, often as a part of their business strategy, IT, or human resource management departments. Several consulting companies provide advice regarding KM to these organizations.
Knowledge management efforts typically focus on organisational objectives such as improved performance, competitive advantage, innovation, the sharing of lessons learned, integration, and continuous improvement of the organisation. These efforts overlap with organisational learning and may be distinguished from that by a greater focus on the management of knowledge as a strategic asset and on encouraging the sharing of knowledge. KM is an enabler of organizational learning.
The most complex scenario for knowledge management may be found in the context of supply chain as it involves multiple companies without an ownership relationship or hierarchy between them, being called by some authors as transorganizational or interorganizational knowledge. That complexity is additionally increased by industry 4.0 (or 4th industrial revolution) and digital transformation, as new challenges emerge from both the volume and speed of information flows and knowledge generation.
Knowledge management efforts have a long history, including on-the-job discussions, formal apprenticeship, discussion forums, corporate libraries, professional training, and mentoring programs.
