124 Chapter 4 KnowledgeManageMent
such capability. That is why knowledge is considered the driver of the world
economy. Effective knowledge management offers benefits to the individu-
als and organizations in which it is employed and provides the platform for
knowledge innovation. The following paragraphs describe the typical ben-
efits of knowledge management in an organization.
4.17.1 Knowledge-Related Benefits
Documentation and safekeeping of knowledge•
High degree of availability and access to the latest organization-wide •
knowledge
Reduces knowledge loss•
Provides background of innovation and new knowledge creation•
Controls redundancy of stored knowledge•
4.17.2 Organizational and Administrative Benefits
Improved customer ser ...