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Knowledge management is the process of creating, sharing, using and managing the knowledge and information of an organisation. It refers to a multidisciplinary approach to achieving organisational objectives by making the best use of knowledge.

Organizations make products, the raw materials for the product to be sourced, stored, managed, protected, grown, assembled and delivered. Imagine a product being manufactured, and sold, like a huge plane or a small pin. It needs the associated product, material knowledge to be organised, communicated to the required persons to be able to follow the right procedure and then deliver to the customer.

Imagine a service is to be delivered, whether its a legal advisory service or a professional software development service or a support service. In this case the related, appropriate, current knowledge needs to be shared to the right persons. This helps the firm to deliver the agreed service as expected and go beyond it.

Imagine people at a knowledge driven organization like software, lifesciences, R&D divisions of manufacturing firms. The firm need the knowledge as a raw material to be supplied efficiently, sourced effectively, packaged excellently so that the right people can make the right decisions at the right time.

There is a need for every organization, small or big to:

a) UNDERSTAND what is that business critical differentiating knowledge that it knows(what it’s own people know).

b) USE what it knows to make quality products and services.

c) GROW the knowledge across the firm, so that it can sustain its business in new and existing places for a long period.

d) UNLEARN and LEARN new things to make innovative new products and services.

The four commonly recognized generic components of knowledge flow are those recognized by Nonaka and Takeuchi1, often referred to as the SECI model:

Socialization—the transfer of knowledge from person to person through communication.

Externalization—the documentation of tacit knowledge.

Combination—compiling, synthesizing and organizing captured or documented knowledge.

Internalization—interacting with explicit knowledge in order to understand and integrate it into your thinking.

Knowledge Assessment has to do with assessing the effectiveness, efficiency and the quality of the flow of knowledge in an organization.