Discuss the concept of knowledge management. Why is knowledge management important today?

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Assignment Purposes/Learning Outcomes:

After completion of Assignment-1 students will be able to:

LO 1.1: Recognize the overall knowledge management processes, concepts, goals and strategies within the context of organization.

LO 1.2: Describe how valuable individual, group and organizational knowledge is managed throughout the knowledge management cycle.

L.O 1.3 Define the different Knowledge types and explain how they are addressed by knowledge management in different business environments.

Assignment Questions:                 

This Assignment is a report-based assignment.

Besides other materials like journal papers, report, and research articles, students are advised to read chapter 1 to chapter 3 thoroughly from the book prescribed for this course.

Students must use proper references to justify their assignment work. 

The Assignment structure is as follows:

7. Introduction: (5 Marks)
   • Discuss the concept of knowledge management. Why is knowledge management important today? (300-500 Words)
   • Write a detailed paragraph on three generations on knowledge management. (450-750 Words)
   • Describe the terms, Data, Information and Knowledge. Discuss two major types of knowledge. Compare the properties of these two major types of knowledge. (400-500 Words)

1. Knowledge management cycles and Models:

• Discuss in detail Wiig’s KM cycle. How is it different from McElroy’s KM cycle. Write minimum two points of difference. (Minimum 500 words)
• Describe how the major types of knowledge (i.e., tacit and explicit) are transformed in the Nonaka and Takeuchi knowledge spiral model of KM. Use a concrete example to make your point (e.g., a bright idea that occurs to an individual in the organization).
• Which transformations would prove to be the most difficult? Why?
• Which transformation would prove to be fairly easy? Why?

References: Must be more than 5 references