Knowledge management is an essential tool for organization. Discuss Essay

Knowledge solicitude is an essential tool for organization. Discuss - Essay physical exerciseThus, managing experience is the most crucial role for organisations to survive and thrive as we move into a companionship economy driven and global environment. Basically, organizational experience creation is the process of making available and amplifying knowledge created by individuals as sanitary as crystallizing and connecting it with an organizations knowledge system,( Nonaka, Krogh and Voelpel 2006). Research has shown that knowledge creation, retention, sharing and management is an essential tool for an organisation as we gradually move towards a knowledge economy (Nonaka 2007). During the current period, it can be mention that the business environment is constantly changing and knowledge creation is a virtue whereby the human resources management in particular will take a leading role in spearheading the initiative to influence the individuals in the organisation to come up w ith new ideas that can be crystallised as healthful as connected with the organisations knowledge system. Having created the requisite knowledge, then the process of knowledge management attempts to formalise a means of continuous overture through reflection, and computer code of knowledge gained during the project (CCTA 1999). For instance, Nonaka 2001 argues that making personal knowledge available to others is the basic tenet of the knowledge creating company. This will allow others to learn which promotes management of knowledge that has been created with a particular organisation. Through the use of PRINCE2 as a mandatory project management methodology in government sponsored projects, the identification and codification of personal knowledge through lessons learned is a key objective. This involves the utilisation of knowledge created to the benefit of the organisation as a whole. Knowledge creation is a source of long term solution for organisations to gain competitive ad vantage in an economy that is characterised by uncertainty and ever changing environment (Nonaka and Takeuchi 1995 von Krogh et al. 2000). The companies which atomic number 18 quick to create new knowledge in response to the changes obtaining on the ground have a competitive advantage over those which are softened to respond to these changes. In essence, creating new knowledge is about re-creating the company and the individuals to meet a particular vision or ideal. Knowledge creation is not a specialised event but it is treated as a preserve for every worker. This is not limited to a particular department since the notion of the knowledge creating company posits to the effect that every employee has a role to play as far as this concept is concerned in an organisation. A critical synopsis of the article entitled Organizational Knowledge Creation Theory Evolutionary Paths and Future advances by Nonaka, Krogh and Voelpel (2006) shows that the success of an organisation is mainly i nfluenced by its ability to mention pace with changes taking place in the business environment and this is aided by knowledge creation. Examples can be drawn from the cases of Canon as well as many Japanese companies which manufacture cars such as Toyota. Keeping pace with changes in the environment in which the organisation operates entails creativity and innovation of new ideas that will be synthesised into the knowledge system of the company. Managing this knowledge is a basic tenet of