Knowledge management is a topic in which research has increased considerably in the past decade. Nowadays, organisational knowledge is considered an asset (intangible) that can generate competitive advantage. This knowledge is the resource which allows an organisation to innovate and progress.
The DIKW hierarchy, Knowledge is developed through an evolutionary cycle:
Stages and evolution of the knowledge dimension. Source: Magnier-Watanable & Senoo (2008).
We can see how collecting data and analyzing information lead to the construction of knowledge and eventually wisdom. To watch an exciting video on data, information, and knowledge, click here.
And there are 2 dimensions of knowledge as depicted in the following graphic, explicit and tacit :
Source : k4health
“We know more than we can tell” Polanyi, 1966.
Personal Knowledge Management (PKM) is yet another term that, according to Pauleen and Gorman, is “an evolving set of understandings, skills and abilities that allows an individual to survive and prosper in complex and changing organizational and social environments” (p. xvii). The 5 steps of PKM strategy include management, lifelong learning, communication and interpersonal skills, use of technology, and forecasting and anticipating.
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