Abstract & Overview
The aim of this study was to become acquainted with some of the basic factors of knowledge management. Knowledge management is a field that regards knowledge as the most important resource of an organization. Internationalization, development in technology and changes in the way organizations are managed require know-how and ways to increase it. Knowledge management is the key to competition in the future. Today there are numerous descriptions and definitions of knowledge management. Knowing what to manage as knowledge is a critical issue.\n\nDiscussion of knowledge management often begins with the definition of data, information and knowledge. The wide-based knowledge definitions highlight that there are two forms of knowledge: tacit and explicit. Tacit knowledge is linked to personal perspectives, intuition, emotions, beliefs, know-how, experiences and values. Explicit knowledge has a tangible dimension that can be more easily captured, codified and communicated. \n\nKnowledge has always been managed, at least implicitly. The main point in managing knowledge is to understand how knowledge is formed and how people and organizations learn to use it. The interplay of tacit and explicit knowledge is a critical factor in organizational learning. Consequently, knowledge and learning are closely intertwined. A clear strategy helps to increase awareness and understanding of good knowledge management practice.\n\nKnowledge creation is a natural phenomenon and the creation of new knowledge is essential to the survival of almost all businesses. Building a knowledge sharing culture is a key element of knowledge management.