Knowledge management is indispensible in today’s highly globalized economy. Effective management of information and people is vital for companies to survive in this age of stiff competition, shrinking margins, and short product lifecycles. It is important for the knowledge management system to facilitate effective integration between information and personnel in order to foster creativity and innovation. In this work, we look at the various aspects of knowledge management and the challenges involved in effective implementation of an efficient knowledge management system that encourages cooperation and collaboration in a global organization.
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