What is Knowledge Management?

It is the management system which includes the processing of knowledge in terms of creating, using and sharing the information into any management system or organization. With its help people can get all the possible information and use all the knowledge of that company, system or organization. According to many disciplines of this field it includes subjects and sources like computer science, media and information, public health and policies. In 1991 an initial discipline was established named KM and it included the knowledge of various subjects like information system, business administration and courses of library and management sciences. Despite this discipline then came various and multiple disciplines in the knowledge management field and also established and started higher levels of education and relevant degrees in the knowledge management sector. Multiple organizations and management companies take reference from KM regarding the advisory for resource management and strategies for the enhancement of their business and improve the IT strategies in the information and technology sharing and enhancement. The main advantages of knowledge management which any organization would get from it includes innovation and advantages of lessons learned in the information field and for the improvement in business strategies in any field of invention and sharing the knowledge into the industry or organizations.

Criteria and Subjects

In knowledge management various subjects, theories and aspects are relevant for creativity and sharing knowledge and Business Administration is such a field of this sector as it involves all the things relevant to the supervision, administration and tracking overall view in the business programming tasks. Mainly it includes subjects like finance and marketing, project management and mostly accounting. So overall business administration is an important part or subject in the information and knowledge management sector because from creating accounting details of the particular management company, dealing with the fields of marketing and finance and discovering the details of project management to sharing all these information and data with the help of computer science precisely in the organization is the most hectic and important part of the management field.

Other than business management the second most subject is computer science which involves all the criteria related to the data computation and information storage, all the knowledge of software and hardware applications which are responsible for the relevant information computation to sharing all the information with communicative devices and with the help of technology. In knowledge storage and processing some of the most important criteria are learning and sharing the information mainly in the business industry so it plays a major part in marketing and accounting sector as all the precise and important information of any organization can be handled, saved and also can be shared to others with the help of computer science studies and knowledge and many students worldwide are getting relevant degrees in this as this is the subject of future in the digital era of present and next generation too.

Human Resource Management is also an important part of the information and knowledge sector as it involves the management of people and by the people in the information sector in any organization. The manpower of any industry is responsible to achieve the goal of advancement and to gain the criteria of success and financial growth of the company. More the precise policies would be included into the companies and organizations for their employees and their workers related to the point of pay, recruitment, bonus or appraisal, rewards and benefits for their workers, more they would love to work with them with all the dedication and energy as a little act of appraisal can make the workers being dedicated and excited towards their work and more the human resource management would get strong more the company would be benefited in the terms of finance, knowledge enhancement and sharing the marketing and information status across the work field.

Advantages and Benefits

The many advantages which can be gained by a strong knowledge management system are profit and improvement in the overall fields of information, finance, accounting, marketing, worker or employee management and the whole progress of any company or industry. This management also emphasizes on innovation and development in the learning field and also improves communication and network sectors for the strong communication and sharing media and information in the form of knowledge into the whole world and multiple working organizations.