Conclusion

As standard practices to gain competitive advantage, such as cost reduction, reach their limits, effective knowledge management will be left as the only remaining path to greater productivity, efficiency and innovation. Following in the footsteps of information management, knowledge management initiatives must direct people, process and technology to create, capture and share knowledge as an integral part of an organization’s business processes. Along this path, cultural and technical barriers between information and knowledge will be encountered and will have to be overcome. The path will not always be easy, but the history of business excellence shows that attaining great rewards never is.