Knowledge Management is a process used for effective management of an organization's data, information, knowledge and experience. It promotes a culture of collaboration and innovation, allowing all members of the organization to access and share their collective knowledge. It facilitates the flow of knowledge throughout the organization and helps break down silos. Knowledge Management also enables effective decision-making, by providing an organization with access to the latest information to inform their strategy. Lastly, it increases efficiency, as employees can easily access and use existing knowledge, rather than having to recreate it.
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