Knowledge Management Essay

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

The companies restructure so as to fit them in the race of competition, which in turn results in analyzing their business processes and to look at different ways so as to make systems more sleek and competitive, in addition to this many companies are proposing several concepts and ideas and are implementing new tools that serve companies to start BPR. Thus organizations are looking for those strategies that can enhance their performance resulting in their growth and this led proactive management to question the traditional 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.