Knowledge Management has lots of benefits for the organization, but to have a successful Knowledge Management System implemented, the most critical aspect is Senior Management leadership and commitment.
For an effective and efficient KM, excellent information system infrastructure is necessary. To create Knowledge Assets and Culture, we need Databases, Processes, Manuals, Procedures, Strategies, Organization harts etc. Usage of network technology infrastructure such as Internet, Intranet, Lotus Notes, Global communication systems add effectiveness of transfer and sharing of knowledge. Hence Information Systems and Processes are extremely critical components.
Creation of knowledge repository/assets, classification, codifying the knowledge, making it available for all in the organization, ensuring reuse for artifacts for optimization, knowledge sharing seminars, web casts/pod casts, discussion groups, bulletin boards, etc help in leveraging the expertise within organization. This is only possible if there is senior management support, and commitment.

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