Knowledge Management Prioritization as a Mechanism for Accelerating Human Resource Capacity and Organizational Productivity

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.