Which of the following statements best describes knowledge management?
A) Knowledge management eliminates security breaches and unauthorized access to a company's knowledge.
B) Knowledge management is synonymous with information management.
C) Knowledge management focuses on gathering and sharing an organization's collective knowledge to improve productivity and foster innovation.
D) Knowledge management is so complex that it does not belong in any one functional area.

Question

Quizplus · Accepted Answer

Knowledge management is a systematic and organized approach to identifying, creating, capturing, sharing, and using an organization's collective knowledge (both tacit and explicit) to improve productivity, foster innovation, and gain a competitive advantage. It involves the use of various tools, technologies, and processes to facilitate knowledge sharing and collaboration across different departments and functions within the organization. Knowledge management aims to create a knowledge-friendly culture where employees feel empowered to contribute their expertise to the organization's knowledge repository and make better-informed decisions based on the available knowledge. Option A is incorrect because knowledge management also involves controlling access to sensitive information and protecting intellectual property. Option B is incorrect because while information management is a subset of knowledge management, the latter also includes aspects such as learning, innovation, and continuous improvement. Option D is incorrect because knowledge management requires the involvement of multiple functional areas, such as IT, HR, marketing, operations, and R&D, to ensure that knowledge is managed holistically from creation to retirement.

Which of the Following Statements Best Describes Knowledge Management