What is Knowledge Management (KM)? Explain need of KM in Business Organisations.

Knowledge Management (KM) and its Need in Business Organizations

Knowledge Management (KM) is a systematic process of creating, acquiring, organizing, storing, and disseminating knowledge within an organization. It involves the effective utilization of information, expertise, and experience to achieve organizational objectives. KM encompasses a wide range of activities, including capturing tacit knowledge, documenting explicit knowledge, and fostering a culture that encourages knowledge sharing and learning.

In the context of Principles of Management and Information Systems, KM is a crucial component that bridges the gap between people, processes, and technology. It integrates management principles with information systems to enhance organizational performance, innovation, and competitiveness.

Key Components of Knowledge Management:

1. Data and Information:
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