Knowledge management as a competitive tool.

KNOWLEDGE management is the art and science of identifying, evaluating, capturing, creating, enhancing, sharing and applying an enterprise's intellectual capital in order to maintain sustainability.

Although it is a rather fuzzy concept to grasp, knowledge management is understood as a process methodology to handle a corporation's available information to bring about greater overall efficiency and effectiveness of the business.

And according to Woon Tai Hoon, director of enabling technologies, KPMG Consulting Sdn Bhd, the key to building good knowledge management foundation is to focus on repeatability. "This refers to the successful leverage of good business processes and best practices," says Woon. …