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KNOWLEDGE MANAGEMENT

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Introduction
According to the Ulrich (1998) “Knowledge has become a direct competitive advantage for companies selling Ideas & relationships”. That means knowledge has the power to change any kind of business or any other activity in favour of the person who has the proper knowledge. Hence managing it is one such an interesting & vital process in an organization as well as in HRM literature.
Definitions,

“Knowledge Management is concerned with storing & sharing the wisdom, Understanding & expertise accumulated in an organization about its process, techniques & operations (Armstrong, 2006).”

“Knowledge has become a direct competitive advantage for companies selling ideas & relationships (Ulrich, 1998)”

“Any process or practice of creating, acquiring, capturing, sharing & using knowledge, wherever it resides, to enhance learning & performance in Organizations (Scarborough et al, 1999)”

“The process of systematically & actively managing & leveraging the store of knowledge in an organization (Tan, 2000)”

“The attempt by management to actively create, communicate & exploit knowledge as a resource for the organization (Scarborough & Cater, 2000)"
 source: www.Youtube.com
Knowledge is having an awareness or familiarity gained by experience or by learning about things, situations or an idea. Managing the knowledge is using, collecting, improving and sharing the knowledge within organization & with individuals in a systematic way.
The concept of Knowledge Management is coming from ancient time. Our ancestors had their own business and industries which are being operated so far in a very good way. Not like present, succession of the business passed from parents to children, not only the business but also in the governing and ruling systems as well. They taught their technics, experience, expertise to their children, successor or to the followers. Hence organizations managed to carry forward the knowledge over centuries.
Nowadays what we do as Knowledge Management is, doing same kind of activities in systematic ways in organizations. The basic idea of knowledge management is gathering, developing, storing & sharing knowledge within an organization to improve the employee’s level of knowledge towards of better performance.
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Consideration of the global context; Unilever is one of the main multinational companies in the world. They have several management systems & toolkits. The company has a separate department for Knowledge management consist of qualified & well-experienced personals. In 2003 the company established a centre for Knowledge management named The Four Acres Learning & Leadership Centre, in Singapore. During the left years company has increased its performance 4% BY Knowledge Management.
In the local Context, Eastern Bank PLC has their separate department named the Staff Development Centre to conduct various programmes to develop its employee’s knowledge.  It has a pool which is full of experts and conducting a tremendous effort to level up the knowledge of employees. As a result of it, the company performed very well.
Conclusion
Goals of any kind of organization are to be the best in the industry where they belong. Top management of all organizations always pretends to increase the level of performance. Knowledge management is a process which helps to improve performance. Having a good knowledge management system is the key success for organizations.

Reference 

Armstrong, M., 2014. A Hand-Book of Human Resource Management Practice. 13 ed. London: Kogan Page.
LinkedIn, 2019. [Online].
Youtube, 2020. [Online].
 www.Google.com.

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