Volume 1, 2013: Issue 2

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Title:

Why knowledge management?

Author(s):

Zoran Lovrekovic, Higher Education Technical School of Professional Studies, Serbia

Abstract:

This paper discusses some of the reasons for the implementation of knowledge management (KM). Increasingly, rapid technology changes impact the way people work and live and result in new ways they utilize knowledge in organizations, working practices, and overall activities. This paper provides an explanation of general business operations as it used to be during the industrial revolution. Moreover the advantages and disadvantages at the point when the world entered the industrial revolution are discussed, as well as how these same advantages and disadvantages are viewed today. In this paper, it is argued that the industrial way of conducting business operations is not feasible nowadays, and discuss what changes have occurred during the transition to the knowledge economy. Furthermore, this paper discusses what knowledge management is and the reasons why KM must be realized in organizations. The concept of a company's intangible assets is also discussed, as well as its relation with the KM issues discussed. The paper concludes with the observation that KM is the only concept that promotes progress in society while providing organizations with the key to survival and development in today’s highly competitive marketplace.

Keywords:

Knowledge; Knowledge management; Intangible assets; Industrial business processes; Knowledge management business processes; Innovativeness

Type:

Research paper

Journal:

The Online Journal of Applied Knowledge Management (OJAKM), ISSN: 2325-4688

Publisher:

International Institute for Applied Knowledge Management (IIAKM)

Accepted:

17 September 2013

Pages:

128-142