"Theknowledge economic system stands mainly on following foundations.
A. Knowledge hasbecome what we acquire, sale and perform. It is the most important factor of creationof almost everything.
B. The next foundationis outcome to the earlier Knowledge assets is academic capital. It has becomeessential to companies than material or financial assets.
C. The last foundationis to flourish in this fresh economy and develop these newly critical resources;we would require new terminology, new management principles and new KnowledgeManagement Values.
On these abovementioned foundations stands on all the new economy's laws and its profits. Knowledge management can be defined as the tools,techniques, analyze, arrange, and share business knowledge. It can be said thatall businesses have usually aimed to be successful through the management of limitedresources. Now they can use their unlimited resources, the knowledge theirpeople possess. Moreover, it can be considered that unlike most assets,knowledge is not worn out when it is shared. In fact, giving out knowledge ismore or less results in enlarged knowledge for both giver and receiver.
Global KnowledgeManagement has become one of the most important developments in managingorganization it appears to provide new visioninto the mission of the firm and it is also the subject of demand about a newkind of wealth. Knowledge is barely as novela concept as many protagonists of knowledge management claim, but it has onlybecome a management idea lately. Moreover, a large number of companies are attemptingknowledge management projects.
Some people maytreat knowledge management as a theory but real knowledge management is realisticrather than theoretical. Technology is not made to make processes professional;instead, technology is used to make possible the sharing of knowledge. It is dependable with new process based approachesto management.
There arecriticisms of the way that information technology has come to govern publicationson knowledge management and, in doing so, often lost the position In fact, if you think that buyinga software package to collect information is'knowledge management' you are probably wasting your time money. Knowledge is ahead of thetechnology.
