Answer to Question #209503 in Management for Prabhdeep

Question

SUBJECT : KNOWLEDGE MANAGEMENT

Using an Industry case, explain in detail how Knowledge Management strategy can be advantageously (by giving 7 advantages with elaboration ) used in today's IT scenario?

Answer 1

1.   More efficient workplace- it is more effective and sufficient.

2.   Faster- It is faster and good in decision making

3.   Increased collaboration- it enhances teamwork.

4.   Organizational knowledge- It is essential in building organizational knowledge.

5.   Faster training process- it optimizes employee onboarding and training.

6.   Satisfaction- it increases employee retention and happiness since it values on knowledge, innovation, and training. 

7.   Quicker problem solving- in case of an issue, the strategy enhances skills and knowledge to find solutions and settle issues.