Tuesday, June 08, 2004

Knowledge management

Knowledge management means use knowledge of markets, products, technologies and organizations to create profits. Knowledge management identifies and analyzes knowledge, plans and controls the actions to develop knowledge so as to achieve company`s objectives.

Knowledge management is important because it enables a company become competitive. For example. If a company wants to develop a new product which requires knowledge of consumer requirements, new science, new technology, marketing etc. A company can be more competitive if it is equipped with these knowledges