Answer to Question #171455 in Management for Victor Campbell

Question

Critically discuss the role and importance of knowledge management in today’s organizations 

Answer 1

Knowledge management is important because it boosts the efficiency of an organization's decision-making ability. In making sure that all employees have access to the overall expertise held within the organization, a smarter workforce is built who are more able to make quick, informed decisions that benefit the company.

Organizations can increasingly rely on knowledge shared across individuals to produce innovative solutions to problems, as well as, to develop more innovative organizational processes. Knowledge Management has been found to enable frequent improved brainstorming, thus enhancing process innovation.