Knowledge Management (KM) comprises a range of practices used in an organisation to identify, create, represent, distribute and enable adoption of insights and experiences. Such insights and experiences comprise knowledge, either embodied in individuals or embedded in organisational processes or practice. KM has been an established discipline since 1995 with a body of courses in universities to include business administration, information systems, management, and library and information sciences . More recently, other schools, to include those focused on information and media, computer science, public health, and public policy, also have started to contribute. Many large companies and non-profit organisations have resources dedicated to internal KM efforts, often as a part of their 'Business Strategy', 'Information Technology', or 'Human Resource Management' departments . Several consulting companies also exist that provide strategy and advice regarding KM to these organisations.
KM efforts typically focus on organisational objectives such as improved performance, competitive advantage, innovation, developmental processes, the sharing of lessons learned, and continuous improvement of the organisation. KM efforts overlap with Organisational Learning, and may be distinguished from by a greater focus on the management of knowledge as a strategic asset and a focus on encouraging the exchange of knowledge. KM efforts can help individuals and groups to share valuable organisational insights, to reduce redundant work, to avoid 're-inventing the wheel' per se, to reduce training time for new employees, to retain intellectual capital as employees turnover in an organisation, and to adapt to changing environments and markets .
http://en.wikipedia.org/wiki/Knowledge_management
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