The Importance of Knowledge Management

Organizations today must focus on knowledge management due to its critical role in navigating the information era. Companies that excel are often those that effectively collect, produce, formalize, and share knowledge, enabling them to remain competitive. A key factor noted is the frequent and often unproductive meetings aimed at synchronizing understanding among team members, highlighting the inefficiencies of relying solely on verbal communication. By formalizing knowledge and creating explicit models, companies can reduce misunderstandings and streamline processes, leading to better overall organizational performance.