Knowledge Management as a Core Competency? Evaluating the Application and Benefits of Knowledge Management

Abstract

Knowledge management or KM becomes essential because it facilitates the ongoing exchange of information among all stakeholders within an enterprise or organisation and stresses the significance of learning. Whenever necessary, the sharing of facts or data has become a priority and facilitates breakthroughs or a shift in an organisational setup. The management's experience and skills are freely approachable to workers and contribute to a constructive and supportive workplace environment. Competent knowledge management facilitates the generation, diffusion, and use of information to assist a company to accomplish its aims and purposes. In the introductory part of the research, the importance of knowledge management in business settings is discussed. Following that section, the theoretical framework of knowledge management is analysed through previous research findings in the literature review part. The methodology section highlighted the research approach along with different web portals which are used during the research for data collection. The finding part has two sub-sections- one discussed the application of KM to improve the sustainable development approach of businesses and the second one is about the benefits of knowledge management. Knowledge management has been currently employed as a mediator for the sustainable development of businesses. In a quickly changing corporate environment, establishing long-term sustainable plans stresses the requirement for a unique framework of knowledge management methods. The function of knowledge management as a mediator in the interaction between business culture as well as sustainable development is significant, as is the connection between management approach as well as sustainable productivity. Effective strategies are recommended in the very last section of this research paper just after stating the conclusive statements of the research