Knowledge management is leveraging of information to add value to the organisation. Knowledge that has not been shared or re- used is considered tacit. But it is by making this tacit knowledge explicit that its optimal value can be released to generate business
gain. A company s knowledge is an asset, which if managed properly can make a significant contribution to improving business
performance and growth through getting the best out of our people and our physical assets.
Within every company, an enormous amount of data and information is created everyday. However, most members of staff
do not know what information is available, where to locate it, who the subject matter experts are and how to make it available to
others. In addition, the high internal staff movements erode the knowledge base.
Due to the absence of Knowledge Management in most business, a large proportion of the information, which is stored on employees desktops and their intellectual capital, moves on as well. As a result, a great deal of time is spent everyday locating information or re-creating what already exists; thus re-inventing the wheel. Considerable time and resources are spent on external resources (when internal expertise exists) and on external information sources, which are then not shared appropriately within the company. It is clear that there is a demand for
information and knowledge within the Business Unit, but the supply of such information is disjointed and needs to be logically organized, stored and managed. A company s knowledge needs to be systematically managed and packaged such that the true value
of our knowledge is realized.
