Knowledge is said to be the new crude oil, as a result of this, the competition between organizations or companies is for knowledge. Globalization and the increasing numbers of business firms, organizations and companies have brought about a competitive and aggressive business environment.
Thus, the importance of effective knowledge management within an organization cannot be over emphasized. Managers are responsible for all the issues in the company; they need to take right decisions at the right time. This requires an effective knowledge management.
Knowledge management has without any doubt become one of the most interesting research topics in the last couple of years. Knowledge management became an established discipline since 1991. Knowledge is a core essence of any organization and the knowledge assets assist the organization in paving a simpler path for achieving the organizational goals and objectives. Managing the knowledge assets available in an organization is the major challenge the business firms are facing today.
The topic knowledge management cannot be discussed successfully without mentioning human resource(s) management (HRM), owing to the fact that the human capital within an organization is the contributing factor of the knowledge in that organization.
Edwin Flippo to defines HRM as “planning, organizing, directing, controlling of procurement, development, compensation, integration , maintenance and separation of human resources to the end that individual, organizational and social objectives are achieved”.
Thus, and organization cannot exceed the quality of its human capital. The basic mission of human resources will always be to acquire, develop, and retain talent; align the workforce with the business; and be an excellent contributor to the business.
Consequently, the basic mission knowledge management is to use the knowledge gotten from the human capital within an organization to achieve the objectives of the organization.
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