Knowledge Management

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Knowledge Management: The business scenario can be visualized to that of far-reaching and rapidly changing global implications but today’s management and strategic planning seems convincing to take over the business world that demands optimization and future analysis derived from the past trends. Being creative and inventive are the two main key factors in business. The sustainability of organization depends on the creation of knowledge with an ongoing learning process. From an organization point of view knowledge management it is a resource and can be referred as knowledge capital, intellectual capital, assets that are intangible etc. It can be further described has the form of intellectual property like patents, trademarks, copyrights etc. Some years before Indian magazine had realized the prime importance of assets related to organization knowledge in terms of intellectual property and now in today’s western world in spite of major success in outsourcing and downsize activities, However it’s observed that people are getting more inclined to knowledge. The organizations on the other hand are maintaining skill sets of knowledge, while some are trying to change the intangible assets so as to make huge profits. Knowledge Management is critical in terms of adapting, survival and competence in this ever-changing business world, to define it combines the processes of organization that consists of data, processing of the information capacity and technology. Thus because of its significant change from the predictable platform to the discontinous change there is a need to focus on its various aspects such as knowledge creation for organizations stability in longer run. Also KM can be associated with different issues such as product s... ... middle of paper ... ... methods and policies and to start thinking out-of-the box. The companies in turn have formulated the strategies at various levels that have resulted in both organizational and process efficiency and effectiveness. Therefore knowingly or unknowingly industries have adopted or continue to use the BPR in search for excellence in business. (4) References: 1) 2);jsessionid=Z12WDV1YMYOLJQE1GHRSKHWATMY32JVN 3) 4) Works Cited

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