Enterprise knowledge management

Many enterprises downsize to adapt to more competitive environments. But unless they have captured the knowledge of their employees, downsizing can result in a loss of critical information. Similarly, as employees leave, organizations are likely to lose access to large quantities of critical knowledge. And as companies expand internationally, geographic barriers can affect knowledge exchange and prevent easy access to information. These and other forces are pushing enterprises to explore better methods for knowledge management. Enterprise knowledge management entails formally managing knowledge resources, typically by using advanced information technology. KM is formal in that knowledge is classified and categorized according to a prespecified-but evolving-ontology into structured and semistructured data and knowledge bases. The overriding purpose of enterprise KM is to make knowledge accessible and reusable to the enterprise. The business world is becoming so concerned about knowledge management that, according to one report, over 40 percent of the Fortune 1000 now have a chief knowledge officer, a senior-level executive responsible for creating an infrastructure and cultural environment for knowledge sharing. This article surveys some components of this young field.