Effectively knowledge techniques: Knowledge management for the 21^st century

Organizations are realizing how important it is to “know what they know” and be able to make maximum use of it. In an economy where the only certainty is uncertainty, one sure source of lasting competitive advantage is knowledge. Success in an increasingly competitive marketplace depends critically on the quality and effective management of knowledge which organizations apply to their key business processes. This paper discusses how to manage knowledge effectively. In its introduction part, it discusses the need and importance of knowledge, an intellectual capital, in today's information age. It starts with discussing the main component that is knowledge and its different types and continues with sections defining knowledge management, its objectives and activities to give a good insight of purpose, need and importance of knowledge management. Then follows the main part that is how this intellectual capital can be managed effectively. For effective management of knowledge, a knowledge management infrastructure has been proposed which is based on three components which are Culture, Strategy, and Technology and, it is discussed how we can manage knowledge effectively through these components