Knowledge Management as a Matter of Vital Importance for a Modern Organization

In the context of modern economy, management issues are closely related to new knowledge and innovations. Knowledge management in an organization is becoming an important element of management and eventually determines the effectiveness of the organization. Mastering knowledge, its distribution and use are becoming the main source and key factor in the development of material and non-material production, ensuring the sustainable economic growth of an organization. New knowledge in the field of management and their management are interrelated factors which are expected to enable fundamental changes in the organization of human activities and greatly improve its effectiveness. Particular attention is paid to the main tasks of knowledge management: efficiency and innovations. Ensuring the adaptability of knowledge management to new conditions is one of the crucial tasks of the modern organization. Knowledge is the basis for economic and management relations, the implementation of the preferences of the economic entities, the exchange of information and information supply to the markets. Lack of information leads to the collapse of markets and inhibits their creation. Knowledge management tools in modern organizations are also considered at the stages of knowledge extraction, analysis and sharing. It is argued that one of the key tasks of organization and management is to summarize the experience of knowledge management, its comprehensive analysis, to identify the possibilities of using new organizational models and methods, taking into account specific situations and the characteristics of economic entities.