Abstract:
Since the emergence of Knowledge Management (KM) as a scientific discipline in the
early 1990s and Thomas A. Stewart’s publication of a cover story in Harvard Business Review
highlighting the importance of intellectual capital to social entities in this post-industrial
information age, it has attracted much attention amongst many organization’s and practitioners.
Bearing the aforementioned in mind, the objective of this study is to examine the definitions of
knowledge management which apparently was first used in its current context at Mckinsey in 1987
and went public at a conference in Boston in 1993, by recapping its origins which principally
sprouted within the management consulting community, and explores its essential four
components of which are people, process, content/IT, and strategy in the context of modern
organization’s and their roles in accelerating human capital development and organizational
productivity. The study additionally highlights knowledge management processes and models and
causes of limitations in their application. Secondary data was the data collection methodology
utilized for the paper. The research findings among others show there is a significant correlation
between knowledge management and the degree of a firm’s productivity and encourages the
adoption of Community of Practice (CoPs) which are groups of individuals with shared interests
that come together in person or virtually to tell stories, to share and discuss problems and
opportunities. Furthermore, in the context of a “knowledge economy”. Knowledge management is
a key asset as it represents a vital strategic individual and organizational resources, therefore, it
is recommended that more deliberate corporate investment is required in recognizing, creating,
transforming, and distributing knowledge as it aids to improve an organization’s efficiency and
saves knowledge within the business establishment.
