Knowledge Management Strategy in Professional Service Firms

Abstract

Knowledge management is concerned with knowledge sharing and knowledge creation inorganizations. Knowledge management activities include creation, acquisition, identification,storage, sharing and application of knowledge. Some knowledge management activitiescontribute to exploration (i.e. discovery of new knowledge), while others contribute toexploitation (i.e. application of what is already known). Exploitation refers to solution reuse,while exploration refers to solution innovation. Exploitation leverages existing knowledgethrough the application of pre-established procedures, technologies and policing approaches.Exploration can lead to new investigative approaches and new examination procedures