Description

As global competition increases and organizations succeed in proportion to their ability to innovate, operate efficiently, and provide excellent service to their customers, it is imperative to organizations that they excel at managing their internal knowledge. Knowledge, when effectively applied by knowledge workers, is considered by most organizations to be the most valuable asset. This work explores deeply the concept of knowledge, modern industry standards in knowledge management and knowledge management systems, current limitations and drawbacks to knowledge management, and the immense benefits that Web 2.0 technologies applied to knowledge management has to offer organizations. Web 2.0, specifically in communication enhancing areas, will be crucial for organizations in the next several years to effectively manage, retain, and redistribute their internal knowledge.