Why is Knowledge Management Important?
Benefits of knowledge management
The two most important objectives of knowledge management are innovation and reuse. Innovation is closely linked to the generation of new knowledge or new linkages between existing knowledge. Contrary to popular misconception innovation does not occurs in isolation. innovation rests firmly on a large body of accumulated experiences, based on what has worked and what has not worked in the past.
Reuse, forms the basis for organizational learning and should be viewed more as a dissemination of innovation.
The knowledge management strategy provides the basic building blocks used to achieve organizational learning and continuous improvement so as to not waste time repeating mistakes and so that everyone is aware of new and better ways of thinking and doing.