I have to choose a good topic from the area of ICT industry Essay

I have to choose a good topic from the area of ICT industry - Essay Example Or is Knowledge Management just another term for Information Management that is almost the exclusive work area of ICT? The first step in trying to find an answer in this regard is to acquire a clear understanding of the difference between information and knowledge. In other words, knowledge, its properties and its qualities, has to be defined in very clear and comprehensible terms. The definition of knowledge is based on the sequential definitions of data and information (Barnes, 2001). Data, is defined as observations of facts outside any context; data within a meaningful context is information; and ‘information plus’ or information combined with experience, context, interpretation, and reflection within a very highly contextual environment is termed as knowledge. The high-value form of information that is ready for application to decisions and actions within organizations is e termed as Knowledge (Davenport, 1998). It is therefore a type of value-added information. A further distinction is made between two categories of knowledge – tacit or implicit and explicit knowledge. Tacit Knowledge is defined as the type of knowledge that is both understood and applied at the subconscious level. It is knowledge difficult to deliberately express, manifest or articulate, and said to be developed, again subconsciously or involuntarily, through personal interactions, conversations, storytelling and shared experience. Explicit knowledge, on the other hand â€Å"is more precisely and formally articulated, although removed from the original context of creation or use...† (Zach, 1999). Barnes (2001) defines Knowledge Management as an attempt to improve or maximize the use of knowledge that exists in an organization. Knowledge Management has assumed crucial significance for all business organizations that seek to utilize its own experience and that of others to retain a decisive competitive edge over other players in the market.