Knowledge Management in the Information Age

Knowledge is the most valuable and important asset most organizations have, particularly in lean companies, those with extensive value chain networks, and those with high employee turnover. Managing that knowledge is thus key to maintaining competitive advantage. New technologies and management fundamentals have vastly increased the capabilities of knowledge management systems. But a comprehensive understanding of knowledge management from a holistic perspective is key to effective implementation. This paper provides a five-stage model of knowledge management that can enable organizations to fully understand their knowledge environment and better create and apply technologies to manage it.