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Knowledge Management ('KM') comprises a range of practices used by organisations to identify, create, represent, and distribute knowledge. It has been an established discipline since 1995 with a body of university courses and both professional and academic journals dedicated to it. Many large companies have resources dedicated to Knowledge Management, often as a part of 'Information Technology' or 'Human Resource Management' departments. Knowledge Management is a multi-billion dollar world wide market. Knowledge Management programs are typically tied to organisational objectives such as improved performance, competitive advantage, innovation, developmental processes, lessons learnt transfer (for example between projects) and the general development of collaborative practices. Knowledge Management is frequently linked and related to what has become known as the learning organisation, lifelong learning and continuous improvement. Knowledge Management may be distinguished from Organisational Learning by a greater focus on the management of knowledge as an asset and the development and cultivation of the channels through which knowledge, information and signal flow.
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