After series of lectures, brainstorming with group members, I now see Km in a different light. The approach was looking for keywords similar to the definition of Km by KM authorities like Nonaka &Takeuchi (1995),Avery(2008) and Young(N.D).On this grounds, on this is my position on the definition of Km which is similar to Fab05(2010).

Knowledge Management is the optimal utilisation of knowledge which involves the collection, storage and dissemination of knowledge within an organization in order to gain competitive advantage.
“Gaining competitive advantage” in this definition is an offshoot of the processes involved in KM as they enhance the productivity and performance.

Knowledge, Data & Information – Relationship!

This has stimulated argument amongst KM authorities about whether the relationship is linear or not. Acording to Tuomi,the common idea is that data are something less than information and that information is less than knowledge. Moreover, it is assumed that we first need to have data before information can be created, and that it is only when we have information that knowledge can emerge.
According, Fab05 (2010), the relationship is more or less cyclic in the sense that

Based on Figure 1 above, “Knowledge management can be viewed as turning data (raw material) into information (finished goods) and from there into knowledge (actionable finished goods)”. Kanter (1999). He further states that knowledge gives one the power to act, to make decisions that are value producing to the individual and to the company as a whole.

DIFFERING VIEWS OF KNOWLEDGE MANAGEMENT
Knowledge Management is the process of acquiring, storing, distributing using information within a company (BNET Business Dictionary).

According to the business dictionary, Knowledge management can be defined as the “strategies and processes to identify, capture, structure, value, leverage and share an organization’s intellectual assets to enhance its performance and competitiveness”.
Other profound definitions that emphasize on the need to making this information available when needed exist.

Knowledge management is a “conscious strategy for moving the right knowledge to the right people at the right time to assist sharing and enabling the information to be translated into action to improve the organizational performance.” (O’Dell & Grayson, 1997)
Knowledge Management is the capturing, organizing and storing knowledge and experiences of individual workers and groups within the company and making it available to others in the organisation. (Business Dictionary)

Theses definitions clearly show that organizations can gain sustainable competitiveness by identifying, storing information and making it accessible when needed for reuse.

KNOWLEDGE MANAGEMENT APPROACHES
There are two approaches to identifying and managing knowledge within an organization as stated by Sanchez (2000).

TACIT KNOWLEDGE APPROACH
The distinguishing quality of this approach is the belief that knowledge is personal. That is, it resides within an individual and may be acquired through experience. This approach to KM assumes that knowledge in and available to an organization will largely remain in the heads of individuals.
Sanchez (2000) also states that based on the premise that knowledge is personal; the tacit knowledge approach holds that the dissemination of information within an organization can be best achieved by the transfer of people from one part of the organization to another. This view of the approach beliefs that learning in an organization occurs when people come together to share ideas and (hopefully) develop new insight together that will lead to creation of knowledge.

EXPLICIT KNOWLEDGE APPROACH
In opposition to the belief held by the tacit approach, the explicit approach holds that knowledge can be clearly explained by individuals. It further suggests that some efforts and forms of assistance may sometimes be required to assist individuals articulate their knowledge. Based on this, “the explicit knowledge approach also believes that formal organizational processes can be used to help individuals articulate the knowledge they have to create a knowledge asset”. Sanchez (2000).

RECOMMENDATIONS FOR KM PRACTICES
RECOMMENDATION FOR TACIT KNOWLEDGE APPROACH
According to Sanchez (2000), researchers of KM practices propose that individual carriers of knowledge should be properly managed. They further suggested that to leverage on the tacit knowledge of individuals, managers should identify knowledge possessed by different individuals in an organization by establishing interactions between knowledgeable individuals in order to promote the transfer of knowledge from one part of the organization to another thereby creating new knowledge that may be useful to the organization.

RECOMMENDATION FOR EXPLICIT KNOWLEDGE APPROACH
Researchers and Consultants working with the explicit knowledge approach suggest that emphasis should be laid on establishing and sustaining organizational procedures for generating, organizing and leveraging explicit knowledge assets. (Ibid, 2000)

WHICH APPROACH SHOULD BE ADOPTED?
According to Sanchez (2000), it is suggested that “the sound knowledge of knowledge management practice requires a creative combination of the two approaches that enable the strength of one approach to offset the inherent limitations of the other and vice versa”

Clearly, for every organization to get the best out of KM, the two approaches should be adopted by since the benefits of one approach compensates for the shortcomings of the other.

References:
Business Dictionary (copyright 2010) Knowledge Management, http://www.businessdictionary.com/definition/knowledge-management.html
BNET Dictionary, Business Definition for Knowledge Management, http://dictionary.bnet.com/definition/Knowledge+Management.html
Bellinger,G (2004) Knowledge Management, http://www.systems-thinking.org/kmgmt/kmgmt.htm
Jerry Kanter (1999) Knowledge Management practically speaking, http://web.ebscohost.com/ehost/pdf?vid=3&hid=102&sid=45628db0-8074-4324-809c-199e248ff608%40sessionmgr110
Loshin ,P (2001).Knowledge Management http://www.computerworld.com/s/article/64911/Knowledge_Management?taxonomyId=9&pageNumber=2
Sanchez, R (2000). “Tacit Knowledge” versus” Explicit Knowledge”: Approaches to knowledge Management Practices.

Now lets get blogging on a serious note!

Hoping that this would be fun and informative!!!