THE RELATION BETWEEN BUSSINESS CASE AND KNOWLEDGE MANAGEMENT

For companies, effective risk management is not only dependent upon a strong ethical framework. It is equally dependent upon a company’s ability to sense potential risk issues, to analyze the situation using the skills and expertise of its employees and to respond in a measured and effective way. To do that, a company needs to marshal the information and knowledge that is available to it, both inside and outside company walls. That process is a knowledge management. Knowledge management is an important area of focus for many organizations in order to be successful in today’s business environment. Globalization is one of the most emotional and least well-defined areas of modern debate. In fact, the concept has become so muddled with broader issues, such as fair trade, sustainability, and even the HIV/Aids pandemic, that it is difficult to pin down any boundaries to the debate. The difficulty in establishing a business case for knowledge management programs is really a problem of cause and effect. The importance of Knowledge Management may be found in many areas and can easily be illustrated with examples.