Used to store, manage, and leverage information, knowledge management systems are becoming increasingly valuable assets within organizations. Organizations must manage knowledge internally (through knowledge risks) and externally (through reputational risks). We define knowledge risks as internal human, technological, and organizational factors, and reputational risks as the effects of knowledge risks and external perils to reputation, credibility, financial status, and future success. An oversight of either risk type can cause significant damage to an organization. This literature review was a means to analyze, categorize, and offer best practices for mitigating risks within a knowledge management system.
The application of knowledge management (KM) strategies help determine how an organization manages knowledge, data, and the use of information. Some scholars suggest that KM systems are vital for securing and maintaining organizational success; others assert that a company's KM system should strongly reflect its internal competitive strategy. The main purpose of this study is to make a distinction between strategies and systems and to articulate distinct KM strategies. While previous researchers have detailed what a KM system should embody, scholars have yet to compile and express the nuances of KM systems available for execution into actual strategies. This qualitative, literature review outlines four KM systems (KM Reward, Tacit Collection, KM Integration, Social Media KM) and their respective strategies. The result of this paper provides practical pathways for organizations to identify appropriate KM strategies for KM systems. We answer the following research questions: • What are the knowledge management systems? • What is the best knowledge management system for organizations to use? • What are the outcomes of knowledge management system best practices?
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