Every organization needs to use knowledge effectively to be a success. As well as product data, research and logistical information, knowledge is generated within an organization on a daily basis. This means that knowledge management is a dynamic and collaborative process, one which requires specific strategies in place.

Knowledge management aims to codify a business’s practices around three areas – knowledge accumulation, knowledge storing and knowledge sharing. How is knowledge recorded, even as it continues to be generated by a business’s operations? Successful knowledge management will enable accurate and efficient decision making, better internal and external communication and can even improve employee morale. Determining the correct knowledge management strategy is essential for your business.