Knowledge Management (KM)
Knowledge management (KM) is the process of creating, using, sharing, and managing information assets and resources. KM aims to encourage the access and use of all types of knowledge resources, including databases, documents, policies, procedures, and people’s expertise, in a collaborative way.
What Small and Midsize Businesses Need to Know About Knowledge Management (KM)
Many companies and nonprofits have departments dedicated to KM, such as information technology (IT), human resources (HR), or business administration. KM helps improve performance, increase competitive advantage, facilitate innovation, and encourage knowledge sharing within a business.