Knowledge Management develops systems and processes to acquire and share intellectual assets. It increases the generation of useful, actionable and meaningful information and seeks to increase both individual and team learning. In addition, it can maximize the value of an organization’s intellectual base across diverse functions and disparate locations. Knowledge Management maintains that successful businesses are a collection not of products but of distinctive knowledge bases. This intellectual capital is the key that will give the company a competitive advantage with its targeted customers. Knowledge Management seeks to accumulate intellectual capital that will create unique core competencies and lead to superior results.

Using knowledge management techniques and technologies in higher education is as vital as it is in the corporate sector. If done effectively, it can lead to better decision-making capabilities, reduced “product” development cycle time (for example, curriculum development and research), improved academic and administrative services, and reduced costs. Consider the number of faculty and staff who possess institutional knowledge. For example, what institution does not have a faculty member who has led successful curriculum revision task forces? Or a departmental secretary who knows how to navigate the complex proposal development or procurement processes? Or a special assistant to the president who has uncovered (or generated) useful reports that individual deans or department chairs could use to develop their own strategic plans?….

Relying on the institutional knowledge of unique individuals can hamper the flexibility and responsiveness of any organization. The challenge is to convert the information that currently resides in those individuals and make it widely and easily available to any faculty member, staff person, or other constituent. An institution wide approach to knowledge management can lead to exponential improvements in sharing knowledge—both explicit and tacit—and the subsequent surge benefits.

“ Knowledge cannot be shared but arises perpetually in action. Knowledge is the process of relating..”

                                                                                                                                                                                                                         Esko Kilpi