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First Defintion of knowledge management. Knowledge management is the process of capturing value, knowledge and understanding of corporate information, using IT systems, in order to maintain, re-use and re-deploy that knowledge. Capturing, organizing, and storing knowledge and experiences of individual workers and groups within an organization and making it available to others in the organization. The information is stored in a special database called a knowledge base and is used to enhance organizational performance. Two of the most common ways are: * Documenting individual's knowledge and disseminating through manuals or a database * Using such tools as groupware, email, and the internet that facilitates communication. Knowledge management leverages all the key resources that a company has in place and that can be put to use in a more effective way.The value of Knowledge Management relates directly to the effectiveness with which the managed knowledge enables the members of the organization to deal...

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