Generating new knowledge for competitive advantage within the organization, knowledge management makes large quantity of corporate information accessible for users. Moreover, it encompasses identification and mapping of intellectual assets within the organization for various requirements including of decision making, choices, performance analysis, etc. amongst others. The requirement for knowledge management is being felt from small to big organizations.
Knowledge management helps organizations improve human performance and bring competitive advantage. Whereas market places are becoming competitive and innovation oriented, reductions in staffing is generating a requirement to replace informal knowledge. Similarly, a pressure is tormenting to reduce the size of the work force so that optimum productivity could be brought. Notwithstanding, reduction in time to acquire more knowledge in less time is the key focus area in modern corporate management.
As early retirements and increasing mobility of the existing human resource increases the quantum of loss of knowledge, expansion of knowledge management services helps small organizations bolter on the knowledge professionals. Additionally, with due changes in strategic direction may cause the loss of knowledge a particular niche; therefore, knowledge management becomes essential to cope with such a situation.
The primary focus of knowledge management is organizations and their critical niches such as design, knowledge of manufacturing, knowledge of distribution, knowledge of service and support, etc. amongst others. Moreover, taking assistance from knowledge management to get into breakthrough business performance can be beneficial in terms of synergizing the staff, existing processes or technology or technology, etc. amongst others.
Some knowledge management services such as decision making process in corporate organizations are crucial from modern management point of view; and, for such a crucial requirement possession of decision support system is fundamental requirement. In a decision support system researchers work on Decision Support Systems so that an insight can be gain from disciplines including of cognitive sciences, management sciences, computer sciences, operations research, systems engineering, etc. amongst others.
Writing technical manuals and other allied services is fundamental for technological upgrading of corporate management. Notwithstanding, services such as writing user manuals, Provisioning guides, Installation manuals, Training guides, Reference guides, Release notes, Configuration guides, System technician guides, Hardware documentations, Policies and procedures, E-learning modules, Alarm guides, Translation guides, Maintenance manuals, Quick reference guides, Glossaries, Administration guides, etc. are being considered part of knowledge management service.
Emergence of document management services as part of knowledge management broadens the scope of operation and generation of employment. In a typical document processing where in services including of Data Processing Services, Forms Processing Services, Order Processing Services, Image Processing Services, Data Mining Services, Data Cleansing Services, Insurance Claims Processing, Market Research Forms Processing, Check Processing Services, Credit Card Processing Services, Transaction Processing Services, Survey Processing Services, etc. are fundamental, are crucial for modern day management.
Corporate organizations often come across with changes in strategies and for that sound understanding of methods and tools of knowledge management are essential.
Notwithstanding, knowledge management and investment in it can serve in long term for corporate bodies wherein such companies can leverage on benefits for long. Additionally, in order to cut of the expenses on ill-defined and overriding costs of human resources, knowledge management and investment in it is becoming essential.