Every company has, to a greater or lesser extent, an information subsystem — that is, a means by which it gathers data, interprets it, and makes it available to employees through a distribution system. Whether we are talking about marketing information, cost projections, accounting results, or internal quality reports, every company depends on knowledge to support its planning, decision-making, and control.

Every company has, to a greater or lesser extent, an information subsystem — that is, a means by which it gathers data, interprets it, and makes it available to employees through a distribution system. Whether we are talking about marketing information, cost projections, accounting results, or internal quality reports, every company depends on knowledge to support its planning, decision-making, and control.

So how does knowledge fit into the picture? The emergence of the field called knowledge management has highlighted some key propositions in the last 10 years or so.

All organizations are storehouses of knowledge that operate in information-rich environments made up of people and things both inside and outside the organization itself

Organizations organize, interpret, and evaluate this information to solve organizational problems