Management is what managers do. The document discusses the importance of knowledge management in modern organizations. It defines knowledge management as processes to generate, capture, codify and transfer knowledge across an organization to achieve competitive advantage. Key benefits include facilitating decision-making, building learning organizations, and stimulating cultural change and innovation. Successful knowledge management requires participation from employees, appropriate technology solutions, and standardized processes for knowledge contribution and retrieval. It also outlines six key knowledge assets in an organization.

2. Management is what managers do.
M
A --- The Manager
N
A
G --- Knowledge
E
M
E --- The People
N
T --- Technology/Techniques/Tactics

3. Aim:
To point out the importance of developing and implementing an
effective system of knowledge management in the modern
organization.
Introduction to Knowledge Management:
Knowledge Management (KM) is defined as the processes
needed to generate, capture, codify and transfer knowledge across
the organization to achieve competitive advantage.
“Intellectual capital is a synonym of Knowledge Management”

4. Three key reasons why actively managing knowledge is
important to a company’s success are
Facilitates decision-making capabilities,
Builds learning organizations by making learning routine
Stimulates cultural change and innovation

6. People:
The biggest challenge in KM is to ensure participation by the
people or employees in the knowledge sharing, collaboration
and re-use to achieve business results. This is achieved through
a combination of motivation / recognition and rewards, re-
alignment of performance appraisal systems, and other
measurement systems.

7. Technology:
KM technology solutions provide functionality to support
knowledge-sharing, collaboration, workflow, document-
management across the enterprise and beyond into the
extended enterprise. These tools typically provide a secure
central space where employees, customers, partners and
suppliers can exchange information, share knowledge and guide
each other and the organization to better decisions.

8. Process:
The Process component include standard processes for
knowledge-contribution, content management (accepting
content, maintaining quality, keeping content current,
deleting or archiving content that is obsolete), retrieval,
membership on communities of practice, implementation-
projects based on knowledge-reuse, methodology and
standard formats to document best-practices and case studies,
etc.

10. Elements Definition
Acquisition Acquisition is a process that covers the activities of the accessibility,
collecting and application of acquired knowledge
Conversion Conversion is a process that converts knowledge acquired from
external and internal sources into useful and applicable forms to
improve productivity and business operations.
Application Application is the process of actual use of knowledge. The
application of knowledge enables organizations continuously to
translate their organizational expertise into embodied products
Storing Storing is the process of keeping Knowledge within the
organization and includes physical resources as well as non-physical
resources
Protection Protection is the process of secure the knowledge asset and keeps it
safe and accessed only by authorized personnel.

12. There are six knowledge assets in an organization namely:
Stakeholder relationships: includes licensing agreements,
partnering agreements, contracts and distribution agreements.
Human resources: skills, competence, commitment, motivation and
loyalty of employees.
Physical infrastructure: office layout and information and
communication technology such as databases, e-mail and intranets.
Culture: organizational values, employee networking and
management philosophy.
Practices and routines: formal or informal process manuals with
rules and procedures and tacit rules, often refers to “the way things are
done around here”.
Intellectual Property: patents, copyrights, trademarks, brands,
registered design and trade secrets.

14. a) Knowledge management improves and integrates acquisition,
assimilation, transformation and exploitation of external
knowledge capabilities and by this improves a firm’s absorptive
capacity. The challenge for a firm’s management but also its
knowledge management system is to transform external and
available knowledge, which is ready to use in business operations
and processes
b) Knowledge management improves identifying, absorption and
exploiting useful external knowledge that is the result of business
cooperation of an enterprise
c) Knowledge management improves a firm’s growth willingness,
which has a positive influence on knowledge acquisition,
assimilation, transformation and exploitation capabilities. The
dimensions of absorptive capacity are not realized by themselves.