Refers to methods used to create, share, use, and manage the knowledge and information of an organization; and the technology that makes it possible to store, access, and update information. KM technology is a portal that links many databases together and enables the exploration of one or multiple sources simultaneously.

KM in the information-age requires an increasingly large proportion of the working population to consist of information workers. In this context, KM is a movement to create an information environment conducive to successful research and development—one that depends on extensive and deep open communication and information access that can be shared broadly across an organization.

Many organizations develop a knowledge management system to conduct their business efficiently and effectively. Common steps include: 1) knowledge creation; 2) organization of knowledge; 3) sharing of knowledge; 4) acting on knowledge; and 5) updating knowledge.

Main KM strategies include: 1) collecting and recording information (codification), 2) spreading information (dissemination), and 3) tailoring information to specific audiences (personalization). Most organizations with knowledge management systems use a blend of these strategies.

In the KM literature, knowledge is often categorized as:

• Explicit—information or knowledge that is set out in tangible form; structured information easy to document, share, and learn from.
• Implicit—information or knowledge that is not set out in tangible form but could be made explicit; the application of explicit knowledge.
• Tacit—information or knowledge gained from experience or intuition.