Article:

The information technology department is in charge of managing the company's information in order to improve the organization's performance, whereas the knowledge management department is in charge of generating, acquiring, and distributing information utilizing knowledge in order to enable knowledge. Projectors, stationery, laptops, and screens are the most common training tools required by the department. These are some of the instruments that the department will require in order to deliver outcomes, particularly during training. Whereas technology is beneficial, Knowledge management is concerned with both people and processes. Technology maintains explicit and codified knowledge, whereas knowledge management manages both codified and uncodified knowledge. IT and technology tools can only support KM; they have no control over it. Technology brings people together and aids in communication, as well as allowing for the storing and transport of information for KM (UMGC, 2023). To achieve better results, we use the following strategies: 1. To improve KM, security levels should be accommodated at the appropriate level. 2. People should be motivated to embrace their culture in order to get better KM results. 3. Technology should be regulated so that knowledge can be transferred as quickly as possible. 4. To improve performance and results, such data should be retained that is original and accurate. 5. A knowledge leader who can manage knowledge with responsibilities should be chosen. To achieve better results, use the following tools: Content Creation Tools Data Mining & Knowledge Discovery Blogs Content Management Tools The IT department is only concerned with the technical aspect and the challenges that arise as a result of it. KM is a completely different situation. It primarily addresses the issue of the firm's key and critical information. It has a tendency to capture, share/disseminate, and create new information for the benefit of the entire business. As a result, the IT department cannot effectively manage knowledge. As previously said, knowledge management is not the same as information technology. Previously, knowledge management methods were allocated to the HR department, but in recent years, it has become necessary for top organizations where knowledge is critical to have a separate department. For years, many economists have argued that by 2030, the economy would be centered on knowledge, dubbed the "knowledge economy," demonstrating the growing importance of knowledge and management. Companies that can capture and transmit knowledge will thrive. It is also important to note that knowledge management involves two distinct strategies: knowledge reuse and knowledge innovation. These strategies and software are created in accordance with the organization's plan. For example, if a company wishes to deliver valuable and one-of-a-kind services, it will adopt a knowledge innovation strategy. Different tools are used for both techniques, such as for knowledge reuse, where vital knowledge is discovered, collected, and saved in a database to be shared across the organization. While for innovation, talent acquisition is used, and activities such as communities of practice, mentoring, and socializing are used to exchange and generate new knowledge. The IT and KM interact in the KM process to produce efficiency for the organization by doing the process of developing, sharing, utilizing and managing an organization's knowledge and information. It refers to an interdisciplinary approach to achieving organizational goals through the most effective use of information. Knowledge management facilitates organizational learning. Having multiple departments in a corporation allows senior management to effectively oversee the organization's operations in order to accomplish the desired goals. This is because it is simple to examine each department and determine which departments require improvement. In this instance, the CEO should form a knowledge management department as a separate department that will focus on improving knowledge among firm employees, allowing the IT department to focus on its duty. The knowledge management department has the ability to successfully train people and expand organizational knowledge. As technology develops, the greater the possibility and effectiveness of knowledge management in achieving its goals. Knowledge management contains different processes and tasks, and each process needs appropriate technology and tools to achieve its goals. Technology is extremely useful, but KM's focus is on people and processes. IT is great for transferring explicit, codified knowledge, but its role in the transfer of deeper, internalized knowledge is more complex. The tools required to produce results in KM management include Content Repository which allows users to manage and share knowledge content, the Communication tool for effective communication, and Knowledge Visualization to achieve the required results.

Question: How can these companies leverage knowledge reuse and knowledge innovation to create competitive advantages?