Knowledge management is a crucial aspect of any organization's success, as it involves capturing, organizing, sharing, and utilizing the collective knowledge and expertise within the organization. The two most important objectives of knowledge management are innovation and reuse.
Innovation refers to the development and application of novel approaches, strategies, technologies, and methodologies to enhance the processes of capturing, organizing, sharing, and utilizing knowledge within an organization. It involves finding creative and unique ways to improve how knowledge is created, accessed, distributed, and leveraged to achieve organizational goals.
" 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.
Enable innovation and operational efficiency
