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MLS 761: SEMINAR IN KNOWLEDGE MANAGEMENTTopic 1: INTRODUCTION TO KMPREPARED FOR:DR. DANGMERDUWATI BINTI HASHIMPREPARED BY : AMIRA IDAYU BINTI MOHD SHUKRYFADDLIZA BINTI MOHD ZAKISITI BASRIYAH BINTI SHAIK BAHARUDIN ZALINA BINTI ABDUL RAHIM
PRESENTATION OUTLINESHistory, definition of concepts, and the antecedents of KMThe legacy and current state of the art of KM: an overviewThe elements of a KM InitiativeThe importance of KM for competitive edge in the K-economyThe evolution of KMInformation management and KMExplicit Knowledge, tacit knowledge and the knowledge infrastructureKM and ethics
KNOWLEDGE MANAGEMENTHistory, definition of concepts, and the antecedents of KMThe legacy and current state of the art of KM: an overviewPresented by:MS. ZALINA BINTI ABDUL RAHIM
Knowledge Management (KM)An Introduction to KMKnowledge, knowledge workers and KM are topics receiving increasing attention from a variety disciplines.KM is one of the hottest topics today in both the industry world and information research world.“Many have said we are moving from a post industrial to a knowledge-based economy.” (Drucker, 1993)Effective KM is now recognized to be “the key driver of new knowledge and new ideas” to the innovation process to new innovative products, services and solutions.Knowledge  Age is the third wave of human socio-economic development.1st wave was Agricultural Age   Wealth was defined as ownership of land2nd wave was Industrial Age   Wealth was defined on ownership of capital (i.e. factories)3rd wave was Knowledge Age    Wealth was based upon the ownership of knowledge and the ability to use that knowledge to create or improve goods and services.(Charles Savage in Fifth Generation Management, 2008)Cont.
Two Kinds of KnowledgeKnowledge is intangible dynamic, and difficult to measure, but without it no organization can survive.  Explicit : knowledge which has been “encoded into some media external to a person.” (Walczak, 2005)
 Tacit : knowledge that is stored within an      individual and as such is personal and      context specific. (Lin and Tseng, 2005 ; Srdoc et. al., 2005)
So…what is knowledge management? “Knowledge management (KM) is an effort to increase useful knowledge within the organization. Ways to do this include encouraging communication, offering opportunities to learn, and promoting the sharing of appropriate knowledge artifacts.”McInerney, C. (2002). Knowledge management and the dynamic nature of knowledge. JASIST, 53 (2).
Interdisciplinary Nature of KM(KimizDalkir, 2005)
"The capabilities by which communities within an organization capture the knowledge that is critical to them, constantly improve it and make it available in the most effective manner to those who need it, so that they can exploit it creatively to add value as a normal part of their work“                                                                               (GlaxoSmithKline)“The creation and subsequent management of an environment which encourages knowledge to be created, shared, learnt, enhanced, and organized for the benefit of the organization and its customers.”(MaryamSarrafzadeh, Bill Martin, AfsanehHazeri, 2006)
Summary of KM DefinitionDesigning and installing techniques and processes to create, protect, and use known knowledge.Designing and creating environments and activities to discover and release knowledge that is not known, or tacit knowledge.Articulating the purpose and nature of managing knowledge as a resource and embodying it in other initiatives and programs.
History of KMThe history of managing knowledge goes back to the earliest civilizations (Wiig, 1997). (KimizDalkir, 2005)
KM Milestones(KimizDalkir, 2005)
Present and Future State of KM KM is in a state of high growth, especially  among the business and legal services industries .Currently, communities of practice such as the KM Network and the development of standards and best practices are in a mature stage of development.
http://www.unc.edu/~sunnyliu/inls258/IntroductiontoKnowledge_Management.html
KNOWLEDGE MANAGEMENTThe elements of a KM InitiativeThe importance of KM for competitive edge in the K-economyPresented by:MS. AMIRA IDAYU BINTI MOHD SHUKRY
ELEMENTS OF A KM INITIATIVEModel by Nonaka and Takeuchi, 1995 ppi.fsksm.utm.my/staf/shahizan/personal/data/ICKM05.pdf
Cont.PEOPLERefers to cultural and behavioral approach
Knowledge is created by individuals
In Japanese Firms, the creation and sharing of knowledge can only happen when individuals cooperate willingly.Cont.II. 	PROCESSESProcesses in contributing the knowledge management
4 processes of interactions  is a spiral process that takes place repeatedlyb) ExternalizationDevelopingconcepts and models to convert tacit knowledge to explicit knowledge
Enable it to be communicated to others Socialization Sharing tacit    knowledge through face-to-face communication or shared experience. eg: meetingc) CombinationCombination of various elements of explicit knowledge to form more complex and systematic explicit knowledged) InternalizationUnderstand explicit knowledge
Closely linked to learning by doinghttp://knowledgeandmanagement.wordpress.com/seci-model-nonaka-takeuchi/
Cont.TECHNOLOGYRefers to the network system
Facilitate connections:Among knowledgeable people (by helping them find & interact with one another)Between people and sources of information     Through ICT, explicit knowledge can be captured and            disseminated
PILLARS OF K-ECONOMY ICTINNOVATIONEDUCATIONKNOWLEDGE ECONOMYINFORMATION SOCIETY KNOWLEDGE SOCIETYINFORMATICKNOWLEDGE MANAGEMENThttp://www.esastap.org.za/esastap/pdfs/presents_kad_mba_2006.pdf
IMPORTANCE OF KM FOR COMPETITIVE EDGE IN THE K-ECONOMY K-economy is about knowledge and the ability to create new     value and wealth In the K-economy, wealth derived from the exploitation  of     intangible assets like experience, know-how and knowledge To be success in K-economy, we need to accept and adapt     to an environment where intangible assets are the key driver K-economy is more than a commitment to manage and tap     into the accumulated knowledge within the business Knowledge Management leads to greater productivityKNOWLEDGE MANAGEMENTThe evolution of KMInformation management and KMPresented by:MDM. SITI BASRIYAH BINTI SHAIK BAHARUDIN
THE EVOLUTION OF KMKM has undergonea paradigm shift from a static, knowledge-warehouse approach towards a dynamic communication-based  or network approach focusing more on tacit  knowledge.  KM is a dynamic people-centric approach especiqlly on cultural problems and motivational issues in knowledge sharing.The use of information technology in KM●Businessprocessreengineering● Communities & colaboration● Tacit knowledge● Incentives and reward
KM has evolve from the combination of 2 factors :The business world’s enthusiasm for “intelectual capital”The appearance of corporate intranet (ideal tool to link and organisation together to share and disseminate knowledge throughout scattered offices and units
INFORMATION MANAGEMENT●  Focuses on information as a resource or collection.●  Practitioners  select, describe, classify, index, and abstract this        information to make it more accessible within and outside the      organization. ●  IM is concerned to provide transparent and standardized access      using technology by storing and organize information.
KNOWLEDGE MANAGEMENT● Focuses on its users.● Practioners summarize, contextualize, value-judge, rank, synthesize,       edit and facilitate to make information and knowledge accessible    between people within or outside their organization. It concerns with     the social interactions with sharing and use of knowledge. ● KM is largely based on tacit interpretation that relate to human    behavior and interchange.
FROM INFORMATION MANAGEMENT TO KNOWLEDGE MANAGEMENTKnowledge Management : The Information – Processing ParadigmThe process of collecting, organising, classifying and dissemination of information to make it purposeful to those who need itCapture knowledge in the mind of in a central repository.Organising and analyzing information in a companies computer database.Identification of categories of knowledge needed to support overall business strategyCombining, indexing, searching and push technology to help companies organize data stored and deliver only relevant information using Intranet, groupware, data warehouse, networks, and video conferencing.Mapping  knowledge and information resources both online and offline Knowledge assets are created through computerized collection, storage and sharing of knowledge
KEY DIFFERENCES BETWEEN INFORMATION MANAGEMENT AND KNOWLEDGE MANAGEMENT Interplay Between Information and Knowledge      Information can easily, organized and distributed whereas knowledge resides in one’s mind (human centric)2.  IM and KM Projects: different scopes, approaches and       measurement systems KM rely on the willingness of individuals whereas IM rely on         technical achievement to enable knowledge sharing3. Organizational Learning and KM    Organization can learn through self-knowledge, dialogue       and reuse the existing knowledge into new information4. Broad Concepts of KM     - Time, Context, transformations and dynamics, social space        and knowledge culture5. Protecting Intellectual Capital: IM and KM Perspectives    IM used firewall, permission and access level whereas KM used       retention policies and circulation of knowledge (senior to junior)
KNOWLEDGE MANAGEMENTExplicit Knowledge, tacit knowledge and the knowledge infrastructureKM and ethicsPresented by:MS. FADDLIZA BINTI MOHD ZAKI
Tacit Knowledge and Explicit Knowledge
ITTop Management SupportSocial CapitalCustomer Knowledge
KM and ethicsKM involves the ethical management of people, not just the efficient distribution of documents.
Much of ethics can be distilled down to boundaries – boundaries that can help employees of an organization stay on the correct side of organizational policy and help clarify ethical issues (Groff and Jones, 2003)Boundaries in ethics for KM

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Introduction to Knowledge Management

  • 1. MLS 761: SEMINAR IN KNOWLEDGE MANAGEMENTTopic 1: INTRODUCTION TO KMPREPARED FOR:DR. DANGMERDUWATI BINTI HASHIMPREPARED BY : AMIRA IDAYU BINTI MOHD SHUKRYFADDLIZA BINTI MOHD ZAKISITI BASRIYAH BINTI SHAIK BAHARUDIN ZALINA BINTI ABDUL RAHIM
  • 2. PRESENTATION OUTLINESHistory, definition of concepts, and the antecedents of KMThe legacy and current state of the art of KM: an overviewThe elements of a KM InitiativeThe importance of KM for competitive edge in the K-economyThe evolution of KMInformation management and KMExplicit Knowledge, tacit knowledge and the knowledge infrastructureKM and ethics
  • 3. KNOWLEDGE MANAGEMENTHistory, definition of concepts, and the antecedents of KMThe legacy and current state of the art of KM: an overviewPresented by:MS. ZALINA BINTI ABDUL RAHIM
  • 4. Knowledge Management (KM)An Introduction to KMKnowledge, knowledge workers and KM are topics receiving increasing attention from a variety disciplines.KM is one of the hottest topics today in both the industry world and information research world.“Many have said we are moving from a post industrial to a knowledge-based economy.” (Drucker, 1993)Effective KM is now recognized to be “the key driver of new knowledge and new ideas” to the innovation process to new innovative products, services and solutions.Knowledge Age is the third wave of human socio-economic development.1st wave was Agricultural Age Wealth was defined as ownership of land2nd wave was Industrial Age Wealth was defined on ownership of capital (i.e. factories)3rd wave was Knowledge Age Wealth was based upon the ownership of knowledge and the ability to use that knowledge to create or improve goods and services.(Charles Savage in Fifth Generation Management, 2008)Cont.
  • 5. Two Kinds of KnowledgeKnowledge is intangible dynamic, and difficult to measure, but without it no organization can survive. Explicit : knowledge which has been “encoded into some media external to a person.” (Walczak, 2005)
  • 6. Tacit : knowledge that is stored within an individual and as such is personal and context specific. (Lin and Tseng, 2005 ; Srdoc et. al., 2005)
  • 7. So…what is knowledge management? “Knowledge management (KM) is an effort to increase useful knowledge within the organization. Ways to do this include encouraging communication, offering opportunities to learn, and promoting the sharing of appropriate knowledge artifacts.”McInerney, C. (2002). Knowledge management and the dynamic nature of knowledge. JASIST, 53 (2).
  • 8. Interdisciplinary Nature of KM(KimizDalkir, 2005)
  • 9. "The capabilities by which communities within an organization capture the knowledge that is critical to them, constantly improve it and make it available in the most effective manner to those who need it, so that they can exploit it creatively to add value as a normal part of their work“ (GlaxoSmithKline)“The creation and subsequent management of an environment which encourages knowledge to be created, shared, learnt, enhanced, and organized for the benefit of the organization and its customers.”(MaryamSarrafzadeh, Bill Martin, AfsanehHazeri, 2006)
  • 10. Summary of KM DefinitionDesigning and installing techniques and processes to create, protect, and use known knowledge.Designing and creating environments and activities to discover and release knowledge that is not known, or tacit knowledge.Articulating the purpose and nature of managing knowledge as a resource and embodying it in other initiatives and programs.
  • 11. History of KMThe history of managing knowledge goes back to the earliest civilizations (Wiig, 1997). (KimizDalkir, 2005)
  • 13. Present and Future State of KM KM is in a state of high growth, especially among the business and legal services industries .Currently, communities of practice such as the KM Network and the development of standards and best practices are in a mature stage of development.
  • 15. KNOWLEDGE MANAGEMENTThe elements of a KM InitiativeThe importance of KM for competitive edge in the K-economyPresented by:MS. AMIRA IDAYU BINTI MOHD SHUKRY
  • 16. ELEMENTS OF A KM INITIATIVEModel by Nonaka and Takeuchi, 1995 ppi.fsksm.utm.my/staf/shahizan/personal/data/ICKM05.pdf
  • 17. Cont.PEOPLERefers to cultural and behavioral approach
  • 18. Knowledge is created by individuals
  • 19. In Japanese Firms, the creation and sharing of knowledge can only happen when individuals cooperate willingly.Cont.II. PROCESSESProcesses in contributing the knowledge management
  • 20. 4 processes of interactions is a spiral process that takes place repeatedlyb) ExternalizationDevelopingconcepts and models to convert tacit knowledge to explicit knowledge
  • 21. Enable it to be communicated to others Socialization Sharing tacit knowledge through face-to-face communication or shared experience. eg: meetingc) CombinationCombination of various elements of explicit knowledge to form more complex and systematic explicit knowledged) InternalizationUnderstand explicit knowledge
  • 22. Closely linked to learning by doinghttp://knowledgeandmanagement.wordpress.com/seci-model-nonaka-takeuchi/
  • 24. Facilitate connections:Among knowledgeable people (by helping them find & interact with one another)Between people and sources of information Through ICT, explicit knowledge can be captured and disseminated
  • 25. PILLARS OF K-ECONOMY ICTINNOVATIONEDUCATIONKNOWLEDGE ECONOMYINFORMATION SOCIETY KNOWLEDGE SOCIETYINFORMATICKNOWLEDGE MANAGEMENThttp://www.esastap.org.za/esastap/pdfs/presents_kad_mba_2006.pdf
  • 26. IMPORTANCE OF KM FOR COMPETITIVE EDGE IN THE K-ECONOMY K-economy is about knowledge and the ability to create new value and wealth In the K-economy, wealth derived from the exploitation of intangible assets like experience, know-how and knowledge To be success in K-economy, we need to accept and adapt to an environment where intangible assets are the key driver K-economy is more than a commitment to manage and tap into the accumulated knowledge within the business Knowledge Management leads to greater productivityKNOWLEDGE MANAGEMENTThe evolution of KMInformation management and KMPresented by:MDM. SITI BASRIYAH BINTI SHAIK BAHARUDIN
  • 27. THE EVOLUTION OF KMKM has undergonea paradigm shift from a static, knowledge-warehouse approach towards a dynamic communication-based or network approach focusing more on tacit knowledge. KM is a dynamic people-centric approach especiqlly on cultural problems and motivational issues in knowledge sharing.The use of information technology in KM●Businessprocessreengineering● Communities & colaboration● Tacit knowledge● Incentives and reward
  • 28. KM has evolve from the combination of 2 factors :The business world’s enthusiasm for “intelectual capital”The appearance of corporate intranet (ideal tool to link and organisation together to share and disseminate knowledge throughout scattered offices and units
  • 29. INFORMATION MANAGEMENT● Focuses on information as a resource or collection.● Practitioners select, describe, classify, index, and abstract this information to make it more accessible within and outside the organization. ● IM is concerned to provide transparent and standardized access using technology by storing and organize information.
  • 30. KNOWLEDGE MANAGEMENT● Focuses on its users.● Practioners summarize, contextualize, value-judge, rank, synthesize, edit and facilitate to make information and knowledge accessible between people within or outside their organization. It concerns with the social interactions with sharing and use of knowledge. ● KM is largely based on tacit interpretation that relate to human behavior and interchange.
  • 31. FROM INFORMATION MANAGEMENT TO KNOWLEDGE MANAGEMENTKnowledge Management : The Information – Processing ParadigmThe process of collecting, organising, classifying and dissemination of information to make it purposeful to those who need itCapture knowledge in the mind of in a central repository.Organising and analyzing information in a companies computer database.Identification of categories of knowledge needed to support overall business strategyCombining, indexing, searching and push technology to help companies organize data stored and deliver only relevant information using Intranet, groupware, data warehouse, networks, and video conferencing.Mapping knowledge and information resources both online and offline Knowledge assets are created through computerized collection, storage and sharing of knowledge
  • 32. KEY DIFFERENCES BETWEEN INFORMATION MANAGEMENT AND KNOWLEDGE MANAGEMENT Interplay Between Information and Knowledge Information can easily, organized and distributed whereas knowledge resides in one’s mind (human centric)2. IM and KM Projects: different scopes, approaches and measurement systems KM rely on the willingness of individuals whereas IM rely on technical achievement to enable knowledge sharing3. Organizational Learning and KM Organization can learn through self-knowledge, dialogue and reuse the existing knowledge into new information4. Broad Concepts of KM - Time, Context, transformations and dynamics, social space and knowledge culture5. Protecting Intellectual Capital: IM and KM Perspectives IM used firewall, permission and access level whereas KM used retention policies and circulation of knowledge (senior to junior)
  • 33. KNOWLEDGE MANAGEMENTExplicit Knowledge, tacit knowledge and the knowledge infrastructureKM and ethicsPresented by:MS. FADDLIZA BINTI MOHD ZAKI
  • 34. Tacit Knowledge and Explicit Knowledge
  • 35. ITTop Management SupportSocial CapitalCustomer Knowledge
  • 36. KM and ethicsKM involves the ethical management of people, not just the efficient distribution of documents.
  • 37. Much of ethics can be distilled down to boundaries – boundaries that can help employees of an organization stay on the correct side of organizational policy and help clarify ethical issues (Groff and Jones, 2003)Boundaries in ethics for KM
  • 38. ConclusionKnowledge as an asset or resource unlike information or data, is not easily understood, classified, shared and measured. It is invisible, intangible and difficult to imitate. Expanding the knowledge base within an organization is not the same as expanding its information base.
  • 39. ReferencesDalkir, Kimiz (2005). Knowledge management in theory and practice. Amsterdam ; Boston : Elsevier/Butterworth HeinemannGroff, Todd R. & Jones, Thomas P. (2003). Introduction to knowledge management: KM in business. Amsterdam: Butterworth Heinemann.JuhanaSalim, Mohd. Shahizan Othman & SharhidaZawani. (2005). Integrated approach to knowledge management initiatives programme: towards designing an effective knowledge management system. International Conference on Knowledge Management,1-23. Retrieved July 10, 2011, from http://www.eg2km.org/articles/Enriching%20KM%20in%20R&%20D%20Organisation%20-%20A%20Malaysian%20Perspective.pdfMbanananga, N., Dr. (2006). Knowledge management & knowledge economy. Medical research council. Retrieved January 10, 2011, from http://www.esastap.org.za/esastap/pdfs/presents_kad_mba_2006.pdfMilovanović, S. (2006). Knowledge sharing between users and information specialists: Role of trust. Retrieved January 5, 2011, from http://www.12manage.com/methods_nonaka_seci.html
  • 40. ReferencesNancy Dubois, Tricia Wilkerson (2008). Knowledge Management: Background Paper for the Development of a Knowledge Management Strategy for Public Health in Canad. . Retrieved January 10, 2011, from http://www.nccmt.ca/pubs/KMpaper_EN.pdfSarrafzadeh, Maryam, Martin Bill, Hazeri, Afsaneh (2006). “ LIS professionals and knowledge management: some recent perspectives”, Library management, Vol. 27 No.9, pp. 621-635.Srikantaiah, T.K. (2001). Knowledge management: A faceted overview. In Srikantaiah, T.K. , & Koenig, M. (Ed.), Knowledge management (pp. 7-17). New Jersey: Information Today Inc.Waddell, Dianne, Stewart, Deb (2008). “Knowledge management as perceived by quality practitioners”, The TQM Journal, Vol.20 No. 1, pp. 31-44 William Ives, Ben Torrey, Cindy Gordon, (1997). "Knowledge Management: An Emerging Discipline with a Long History", Journal of Knowledge Management, Vol. 1 Iss: 4, pp.269 – 274.

Editor's Notes

  1. Have you ever face, when you need and information you could not retrieve it. You could not retrieve it and apply it to especially for current decision making. So, there is the need of KM.Actually KM is the hottest topic today and receiving increasing attention from variety disciplines. The ability to manage knowledge is becoming more crucial today’s.According to Drucker, 1993, “……………………………………………………………………………………………………………..”. and effective KM is now recognized to be “the key driver of new knowledge and new ideas” to the innovation process to new innovative products, services and solutions.The move from an industrially-based economy to a knowledge or information-based one in the 21st Century demands a top-notch knowledge management system to secure a competitive edge and a capacity for learning.**the key challenge of the knowledge-based economy is to foster innovation
  2. According to Charles Savage in Fifth Generation Management writes of the Knowledge Age as the third wave of human socio-economic development (Wikipedia, 2008). “The first wave was the Agricultural Age when wealth was defined as ownership of land. In the second wave, the Industrial Age, wealth was based on ownership of capital (i.e., factories). In the Knowledge Age, wealth is based upon the ownership of knowledge and the ability to use that knowledge to create or improve goods and services. Product improvements include cost, durability, suitability, timeliness of delivery, and security. In the Knowledge Age, 2% of the working population will work on the land, 10% will work in Industry and the rest will be Knowledge Workers [a term coined by Peter Drucker in 1959]”
  3. Knowledge has always been central to human performance and it has been defined as “ the capacity to act” (Svelby, 1997).Davenport, De Long and Beer (1998), “knowledge is a high value from of information that is ready to apply to decisions and creations.”Knowledge is intangible dynamic, and difficult to measure, but without it no organization can survive.
  4. In fact, there are likely more than three distinct perspectives on KM. 1. business perspectives, 2. cognitive perspectives, 3. process/technology perspectives. It leads to different extrapolation and different definition. KimizDalkir, 2005 in his books Knowledge management in theory and practice wrote the field of KM doe suffer from the “Three Blind Men and an Elephant” syndrome. It because different field will leads to different perspectives and definition.
  5. In fact, there are likely more than three distinct perspectives on KM. 1. business perspectives, 2. cognitive perspectives, 3. process/technology perspectives. It leads to different extrapolation and different definition. KimizDalkir, 2005 in his books Knowledge management in theory and practice wrote the field of KM doe suffer from the “Three Blind Men and an Elephant” syndrome. It because different field will leads to different perspectives and definition.
  6. It could be conclude that KM is all about managing knowledge. How from the knowledge especially the tacit knowledge could help benefit the organization.
  7. The palace archives of Sumer and Akkad and the extensive cuneiform archives discovered recently at Ebla in Syria, all more than 4,000 years old, were attempts to organize the records of civilization, government and commerce, so that the high value information contained therein could be used to guide new transactions and to prevent the loss of knowledge from generation to generation.
  8. Models of KM began to emerge in the literature in the mid- to late-1980’s. “KM as a conscious discipline evolved from the thinking of academics and pioneers such as Peter Drucker in the 1970s, Karl-Erik Sveiby in the late 1980s, Nonaka and Takeuchi in the 1990s” (National Health Service, 2006).
  9. “The ‘knowledge movement’ has now been with us for about two decades, at least if we trace its origins to IkujiroNanaka’s research on ‘organizational information creation’ in the 1980’s” According to a recent IDC report, knowledge management is in a state of high growth, especially among the business and legal services industries.  As the performance metrics of early adopters are documenting the substantial benefits of knowledge management, more organizations are recognizing the value of leveraging organizational knowledge.  As a result, knowledge management consulting services and technologies are in high demand, and knowledge management software is rapidly evolving. Currently, communities of practice such as the Knowledge Management Network and the development of standards and best practices are in a mature stage of development.  KM curricula such as certification, corporate training and university graduate certificate programs are on the rise. Techniques such as data mining and text mining that use KM for competitive intelligence and innovation are in the early stages of development. Finally, organizations are investing heavily in ad hoc KM software that facilitates organizational knowledge.
  10. In the next several years ad-hoc software will develop into comprehensive, knowledge aware enterprise management systems.  KM and E-learning will converge into knowledge collaboration portals that will efficiently transfer knowledge in an interdisciplinary and cross functional environment. Information systems will evolve into artificial intelligence systems that use intelligent agents to customize and filter relevant information.  New methods and tools will be developed for KM driven E-intelligence and innovation.
  11. Processes in contributing the knowledge management4 processes of interactions is a spiral process that takes place repeatedlyImportant point is to remain active and ascending & must take place in an open system (where knowledge is constantly exchanged with the outside environment)
  12. Such collection of content, enables what is learned by people in an organization be made accessible to others in the organization & used in future
  13. The key challenge of the knowledge-based economy is to foster innovation (penting)Knowledge, and its management, become more and more prominent in today’s world, because we are able to distribute it faster and at far cheaper costIn the Agricultural economy, wealth was measured by land and produce. Thus the more land and agricultural produce you had, the richer you were. In the Industrial economy, wealth was measured by industrial output. The more products you were able to generate in your factories, the richer you were. The Knowledge economy (K-economy) takes these previous economies one step further. Wealth today is not only measured by agricultural or industrial products, but by the new value we can create through the resourceful application of knowledge. In K-economy agriculture, for instance, knowledge could be put to work more effectively through better planting materials, improved horticultural practices or enhanced means of trading agricultural products.