User:Tuyetram

KNOWLEDGE MANAGEMENT
There are many different definations of knowledge, but they still have same basic concept, which is the awarness, beliefs of people through learning and past experiences. When we want to define knowledge, we are often confused about the differences of data, information and knowledge because they are very similar to each other. Let’s consider a stock investor got stock price of CitiGroup Corporation on May 10th and May 11th ,2010. The price of CitiGroup stock was $4.22/share on May 10th, 2010 and $4.17/share on May 11th, 2010. Those price, which was listed on electronic exchange board, are data. Everyone who involes or interests can get them. So meaning data represents a fact or statement of event without relation to other things. After that, he/ she got information to know the stock price had gone down from $4.22/share to $4.17/share. That is analyzed data, which will be organized to impart meaning. Finaly, an investor could see the spread of was $0.05/share and he/she lost some amount of investing money. That is his knowledge. He had it after getting data and information from stock market. So knowledge is the process of translating data, information and past experience into systematic relationship for using and applying in real work.
 * 1) What is knowledge?

Data, information and knowledge process

a.	Explicit knowledge: Although knowledge is huge resouse, it still exists into two major types: explicit knowledge and tacit knowledge. Explicit knowledge is usually contained within tangible or media such as documents, drawing, movies, images, magazines, newspaper etc. It is easy to codify, document, transfer, share, and communicate. Everyone can collect and use. In an organization, explicit knowledge is all relevant documents of the company like contracts, business introduction, customer information, brochure, products description, computer system, mission and vision of the company... The staff can build, use, reuse and innovate the explicit knowledge. b.	Tacit knowledge: By contrast, tacit knowledge exists in an individual’s head, which is very difficult to explain or share to anyone. Just who keeps tacit knowledge can use it. The meaning of tacit knowledge as John Charles Polanyi – 1966 said    “ We know more than we can tell”. An individual always feels hard to explain everything he/she is thinking and also hard to put into words, text, or drawings. An individual gains tacit knowledge through his/her working experiences, studying experiences, or learn from other one’s experiences by sharing, or communicating. We can described tacit knowledge as “know-how” -- as opposed to “know-what” (facts), “know-why” (science), or “know-who” (networking). It involves learning and skill but not in a way that can be written down. In the same case with same explicit knowledge, we can have many different thinkings and solutions from many people. Each one has own knowledge to analyze the problem in case. It depends on what experience and how deeply tacit knowledge an individual has in their head. In an organization, each employee specializes on their major. That is their strong point to create competitive advantage for themselves and for the organization they work for.
 * 1) Types of knowledge: