“Knowledge management” was coined as a formal term in the early 1980s, even though the underlying principles have been with us for eons. The idea is to shift Sir Francis Bacon’s “Knowledge is Power” paradigm to “Sharing Knowledge is Power”. The thrust of knowledge management is how to best leverage knowledge internally and externally in organizations. Knowledge identification, capture, application, sharing, transfer, and generation are all important parts of the iterative knowledge management process. Culture, trust, and respect play critical roles to transform an entity into a “knowledge organization”.
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