10.1d Value of Knowledge and Information Management

Question 1

Knowledge and information management definition

Answer 1

The practice of organising, storing and sharing vital knowledge and information

Question 2

Value of managing information and knowledge:

Answer 2

• Info and knowledge are keys to sustainable competitive advantage
• Savings
• Increase innovation
• Customer relationships

Question 3

Example of knowledge and information management:

Answer 3

• Employees recording specialised knowledge so that if someone leaves they can still use that knowledge
• Improve internal communications with procedures such as sharing lessons learned from a project