Date Added: Oct 2012
The aim of every organization is to achieve its set goals and objectives as well as secure competitive advantage over its competitors. However, these cannot be achieved or actualized if staff or workers act independently and do not share ideas. Today and prominent businesses are becoming more aware that the knowledge of their employees is one of their primary assets. Sometimes organizational decisions cannot be effectively made with information alone; there is need for knowledge application. Value of Knowledge for an organization is described in detail. An effective Knowledge Management System can give a company the competitive edge it needs to be successful, and, for that reason, knowledge Management projects should be high priority.