Fundamental to the unerlying premise of The Fire Knowledge Network is a recognition of the value of knowledge management principles and practice to informed decision making and better business practice.

Definitions of knowledge and knowledge management vary but most focus on the basic concept of making better use of knowledge and have an emphasis on achieving improved organisational outcomes.

Knowledge management is the process by which an organisation generates wealth from its knowledge or intellectual capital. Knowledge management is about stimulating and managing an environment in which knowledge is created, shared, harnessed and used for the benefit of its organization, its people and its customers.

In a more formal definition, Standards Australia, in their publication “Knowledge management: A framework for succeeding in the knowledge era” defines knowledge management as:

“Knowledge management is a multi-disciplined approach to achieving organization objectives by making the best use of knowledge – it focuses on processes such as acquiring, creating and sharing knowledge and the cultural and technical foundations to support them.”

Knowledge management:

• Captures people’s know how
• Provides a platform for continuous and flexible exchange of knowledge
• Allows an organisation to understand know-how gaps
• Allows an organisation to actively manage growth of knowledge
• Provides benefits for individuals, groups, organisational units, and the entire industry

Knowledge management is not technology or an IT device and it is not information management. Both are key aspects of a knowledge management framework but are insufficient to support business strategies through sound knowledge management processes. It is true that technology can enable and support a wide range of knowledge management initiatives but knowledge management should not be equated with technology. You cannot ‘manage’ knowledge you can only facilitate knowledge creation and flow. The most valuable knowledge is ‘within and between the minds of people’. It is people who create and apply knowledge.

Many of us simply do not think in terms of managing knowledge. But we all do it. Each of us is a personal store of knowledge with training, experiences and informal networks of friends and colleagues whom we seek out when we want to solve a problem or explore an opportunity. Essentially, we get things done and succeed by knowing an answer or knowing someone who does.

Fundamentally, knowledge management is about applying the collective knowledge of the entire workforce to achieve specific organisational goals. The aim of knowledge management is not necessarily to manage all knowledge, just the knowledge that is most important to the organisation. It is about ensuring that people have the knowledge they need, where they need it, when they need it - the right knowledge, in the right place, at the right time.