Discuss the concept of knowledge management. Why is knowledge management important today?

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The Assignment structure is as follows:

  • Introduction: (7.5 Marks)
    • Discuss the concept of knowledge management. Why is knowledge management important today? (300-500 Words) (2.5 Mark)
    • Write a detailed paragraph on three generations on knowledge management. (450-750 Words) (3 Marks)
    • Describe the terms, Data, Information and Knowledge. Discuss two major types of knowledge. Compare the properties of these two major types of knowledge. (400-500 Words) (2 Mark)
  • Knowledge management cycles and Models: (7.5 Marks)
  • Discuss in detail Wiig’s KM cycle. How is it different from McElroy’s KM cycle. Write minimum two points of difference. (Minimum 500 words) 
  • Describe how the major types of knowledge (i.e., tacit and explicit) are transformed in the Nonaka and Takeuchi knowledge spiral model of KM. Use a concrete example to make your point (e.g., a bright idea that occurs to an individual in the organization). (2 Mark)
  • a. Which transformations would prove to be the most difficult? Why? (0.5 Mark)
  • b. Which transformation would prove to be fairly easy? Why? (0.5 Mark)
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