Importance of Information Technology on Knowledge Management Activities in Organizations

Recognizing knowledge as an important organizational resource providing competitive advantage has resulted in the implementation of knowledge management in higher education and business organizations. The role of IT or Information Technology in knowledge management is considered essential for higher education. As there are different kinds of information technology solutions needed for knowledge management, education institutions should understand the role of IT for different knowledge management solutions. Knowledge management is a significant driving force of wealth creation and organizational change and the companies that use the knowledge of the employees and considers it to be intellectual capital have a competitive advantage.

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IT Solutions for Successful Knowledge Management

To implement IT solutions for Knowledge Management programs it is important to understand the strategic objectives of an organization or what the organization wants to be. Knowledge Management is not an end. It facilitates the process to achieve organizational objectives. Using knowledge management, an organization can develop new products, improve the process, achieve its business objectives, and enhance customer satisfaction. So, it is vital to focus on strategic objectives and organizational culture before developing Knowledge Management solutions.

Information Technology Roles

Information Technology should offer a seamless pipeline for explicit knowledge

• Capturing knowledge
• searching for and subscribing to a relevant content
• defining, categorizing, storing, linking, and indexing objects to the knowledge units
• Presenting content with the flexibility to make it meaningful

Using information technology effectively for communicating knowledge needs the organization to have an interpretive context. When the communicators share similar experience and background, knowledge, knowledge can be communicated more effectively through electronically mediated channels

The Importance of IT

Information Technology Tool is a competitive differentiator mainly in the financial services sector as improved access to knowledge and information that can help in making decisions. Banks depend on internal software for meeting their strategic needs. With the increasing use of internet technologies, there have been dramatic changes. One of the ways of doing business is online.

Knowledge-based economies have well-developed ICTs that are used for process, transfer, disseminate, and preserve information and knowledge. To apply IT, knowledge, as well as expertise, should be accessible readily, retrievable, and understandable.

Information Technology enables efficient and effective information management and ease of communication among organizations and people. IT includes computer software, hardware, data communication technologies, and database management systems. Information Technology system combines data, information technology, procedures to process data, and people who use and collect the data. If used properly then IT can enhance knowledge-sharing abilities in space and time dimensions. It plays a major role in knowledge management practices and this cannot be overlooked.

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