Explain the concept of knowledge management.

Learning Goal: I’m working on a management multi-part question and need an explanation and answer to help me learn.Assignment Purposes/Learning Outcomes: After completion of Assignment-1 students will be able to: LO 1.1: Recognize the overall knowledge management processes, concepts, goals and strategies within the context of organization. LO 1.2: Describe how valuable individual, group and organizational knowledge is managed throughout the knowledge management cycle. L.O 1.3 Define the different Knowledge types and explain how they are addressed by knowledge management in different business environments. Assignment Questions:(10 Marks) This Assignment is a report-based assignment. Besides other materials like journal papers, report, and research articles, students are advised to read chapter 1, chapter 2 and chapter 3 thoroughly from the book prescribed for this course. Students must use proper references to justify their assignment work. The Assignment structure is as follows: Introduction: (5 Marks) Explain the concept of knowledge management. (1 Mark)
Write a paragraph highlighting the evolution of knowledge management and how knowledge management can help the organisation in present day competitive world. (3 Marks)
How is tacit knowledge different from explicit knowledge? Why is it important for the organisation to capture both Tacit as well as explicit knowledge? (1 Mark)
Knowledge management cycles and Models: ( 5 Marks
Discuss in detail Bukowitz and Williams KM cycle. (1 Mark)
Describe how the major types of knowledge (i.e., tacit and explicit) are transformed in the Nonaka and Takeuchi knowledge spiral model of KM. Use a concrete example to make your point (e.g., a bright idea that occurs to an individual in the organization). (2 Mark)
a. Which transformations would prove to be the most difficult? Why? (1 Mark)
b. Which transformation would prove to be fairly easy? Why? (1 Mark)
Directions: All students are encouraged to use their own words.
Write a three-part essay (i.e., an essay that includes an introduction paragraph, the essay’s body, and a conclusion paragraph).
Use Saudi Electronic University academic writing standards and APA style guidelines.
Use proper referencing (APA style) to reference, other styles will not be accepted.
It is strongly encouraged that you submit all assignments into the safe assignment Originality Check prior to submitting it to your instructor for grading and review the grading rubric to understand how you will be graded for this assignment.
Requirements: I prefer it to be around 1000 words in total

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