Knowledge management (KM) is the process of creating, sharing, using and managing the knowledge and information of an organisation. It refers to a multidisciplinary approach to achieving organisational 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 sciences. 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 organisations.
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 organisational learning