ANSWER THE FOLLOWING QUESTIONS AFTER YOU PAPER BELOW QUESTIONS 1. Was there a clear and concise thesis statement? Explain.  2. Was there a clear and concise problem statement?  3. Was the problem statement supported by evidence? Explain.  4. Was there a clear and concise research question(s)? Explain.  5. Was the body of research organized and easy to understand? Explain.  6. Did the author answer the research question(s) clearly in the discussion section? Explain.  7. Were inferences drawn from the body of research? Explain.  8. Did the paper use proper APA formatting? Explain.  9. Did the author support assertions with in-text citations and references? Explain.  10. What areas need improvement? Explain. What areas were strongest? Explain.  11. Do you have any other constructive feedback or recommendations to help your peer improve? Explain.  12. How did reviewing this paper help you with your own research paper? Explain. Economic Benefits of Knowledge Management Database Management and Communications are two fields of study that can be taken at a lot of higher learning institutions today. These fields play a major role in business and its sustainability. The developments in information and communications technologies which have made knowledge production and exchange easier and further enhanced the methodologies of knowledge discovery are the major factors for the amount of scientific knowledge produced in the last 30 years and continues to grow rapidly.(Kaniki & Mphahlele, 2002) The practice of Knowledge Management as a field is relatively new in the U.S but has been in use by European companies for quite some time. Human capital as an asset is slowly being realized by companies as a major contributor to maintaining the accounting bottom line and even remaining relevant. There has been a recent boom in technological tools that promote knowledge shares such as Microsoft SharePoint. Coupled with the new field of Knowledge Management, is this a viable resource to improve a company's productivity and profitability? Businesses should adopt a knowledge management process and collaborative technologies to be innovative and competitive in today’s market. Statement of the Problem It has become important in today’s workplace to take inventory of a business’s knowledge assets to include both tacit and explicit to increase equity, innovation and competitiveness. In today's free market and ever-changing economy, businesses understand the need to manage proprietary knowledge or “in house” knowledge to maintain competitiveness. How this is done and fostered in a way that it is embraced by the employees is the challenge realized by those who understand the need for knowledge management. For this reason, many business managers are seeking a solution. (Carlucci, 2006) Purpose of the Study The purpose of this study is to research different methods of knowledge management strategies to inform on how business can become more competit.

1. ANSWER THE FOLLOWING QUESTIONS AFTER YOU
PAPER BELOW
QUESTIONS
1. Was there a clear and concise thesis statement? Explain.
2. Was there a clear and concise problem statement?
3. Was the problem statement supported by evidence? Explain.
4. Was there a clear and concise research question(s)? Explain.
5. Was the body of research organized and easy to understand?
Explain.
6. Did the author answer the research question(s) clearly in the
discussion section? Explain.
7. Were inferences drawn from the body of research? Explain.
8. Did the paper use proper APA formatting? Explain.
9. Did the author support assertions with in-text citations and
references? Explain.
10. What areas need improvement? Explain. What areas were
strongest? Explain.
11. Do you have any other constructive feedback or
recommendations to help your peer improve? Explain.
12. How did reviewing this paper help you with your own
research paper? Explain.

2. Economic Benefits of Knowledge Management
Database Management and Communications are two fields of
study that can be taken at a lot of higher learning institutions
today. These fields play a major role in business and its
sustainability. The developments in information and
communications technologies which have made knowledge
production and exchange easier and further enhanced the
methodologies of knowledge discovery are the major factors for
the amount of scientific knowledge produced in the last 30
years and continues to grow rapidly.(Kaniki & Mphahlele,
2002) The practice of Knowledge Management as a field is
relatively new in the U.S but has been in use by European
companies for quite some time.
Human capital as an asset is slowly being realized by companies
as a major contributor to maintaining the accounting bottom line
and even remaining relevant. There has been a recent boom in
technological tools that promote knowledge shares such as
Microsoft SharePoint. Coupled with the new field of Knowledge
Management, is this a viable resource to improve a
company's productivity and profitability? Businesses should
adopt a knowledge management process and collaborative
technologies to be innovative and competitive in today’s
market.
Statement of the Problem
It has become important in today’s workplace to take inventory

3. of a business’s knowledge assets to include both tacit and
explicit to increase equity, innovation and competitiveness. In
today's free market and ever-changing economy, businesses
understand the need to manage proprietary knowledge or “in
house” knowledge to maintain competitiveness. How this is
done and fostered in a way that it is embraced by the employees
is the challenge realized by those who understand the need for
knowledge management. For this reason, many business
managers are seeking a solution. (Carlucci, 2006)
Purpose of the Study
The purpose of this study is to research different methods of
knowledge management strategies to inform on how business
can become more competitive in today’s economy by capturing
and storing knowledge from within the workplace. This study
will explore effective collaborative methods of communication
and various data management repository tools utilized in the
current industry. This research will expound upon the premise
behind the management of knowledge as an asset.
Research Questions
Q1. How can an effective Knowledge management program aid
in keeping a business competitive in today’s economy?
Q2. Why is collaboration and knowledge share difficult for
business to implement and profit from?
Study Significance
Assessing current value and having knowledge of what is
already known can be more valuable to success in the workplace
than previously understood. Embracing change when that
change is of great benefit to all show’s growth. Research
breaking down the benefits of a well-structured knowledge
management program can benefit company’s in this
economically challenged market. Research assisting in the
blueprint of effective knowledge capture and sharing can also
reveal how fostering a collaborative environment in the
workplace will improve employee morale and increase retention
of talent. From a research perspective, although a number of

4. theoretical contributions have stressed the strategic importance
as well as the role of knowledge resources as key value drivers
for companies, there is still a need for a better understanding of
the approaches for the identification, development and
deployment of knowledge resources for the improvement of
organizational performance and company’s wealth creation
(Carmeli and Tishler, 2004)
Knowledge Management and Business Processes
Webster’s dictionary definition of process is a series of actions
or steps taken in order to achieve a particular end. In business
there is the process in which a business achieves production of
its product or services. This process requires all parties
employed to have a certain level of knowledge or know how to
achieve the company’s mission. Knowledge management is the
process to promote the dissemination and retention of that
requisite knowledge. “In current era, both knowledge and
business process capabilities are integral elements for
organizational success”. Studies in the past have concluded and
argued that business processes are a series of work activities
that produce a particular input or output or how an organization
utilizes its resources and capabilities to gain a competitive
advantage. (Rehman &Ahmad, 2015). Wu and Chen (2014) find
that business process capabilities enable the organizational
competence in a unique way and thus increases the market
value. This indicates that business process describes how an
organization performs and implements the given capabilities.
Moreover, business processes are actioning that firms engage in
for achieving its organization objectives and tasks. Combining
the two processes can be the key to increasing a business’s
marketability. How well the processes produce results directly
depend on how well the personnel involved understand and
execute. Organizational learning and performance will
determine those results.
Organizational Learning and Performance

5. Companies can invest a lot of dollars into training its staff.
This can be financing personnel to attend classroom training,
online courses or contracting instructors to conduct onsite
training. No matter the size of the company this can be a major
line on the budget. Finding the right course of action could be a
drill of trial and error. A highly trained staff can increase a
company’s productivity which equates to profitability.
Knowledge Management can be a way to enhance and assist in
the retention of acquisition of new knowledge learned by
personnel within the organization. The codification or
transformation of tacit knowledge to explicit knowledge is
paramount. “Explicit knowledge (can be expressed in words
and numbers, easy to capture, easy to codify, documented and
easily distributed and share). Tacit knowledge (embedded in the
mind of people; hard to articulate, capture, codify and share
because of personal nature of knowledge). Nonaka and Takeuchi
(1995) established a “Knowledge Conversion” model that deals
with explicit and tacit knowledge. It interacts in the human
beings and is presented in four steps; (i) Combination (explicit
to explicit); (ii) Internalization (explicit to tacit); (iii)
Socialization (tacit to tacit); and (iv) Externalization (tacit to
explicit)”. (Basit, Tahir, Khan & Latif,2017).
Organizational learning enhances performance which leads to
solving existing problems and coming up with innovative ways
to tackle new problems and gain competitive advantage.
Cultivating a learning environment within an organization takes
more than just training collaboration is important to ensure
knowledge is shared with all. Collaborative tools and
technology are needed to assist in wide dissemination of
information.
Technology and Knowledge Infrastructure
“Technology refers to the mechanism within organizations that
facilitates the effective transmission of information, knowledge
and wisdom within and outside the organizations.”. (Imran,
Ilyas & Fatima, 2019). The timely acquisition of information,

6. communication and getting the knowledge to the right person at
the right time can heavily depend on the types of technology
used. There are many collaborative tools or apps on the market
today to assist in the dissemination of information. There will
be those who resist change and ask “why a tool or app is
needed?” Some common reasons are collaboration tools help
with time wasted in meetings, increases productivity, increase
visibility of work progress and deadlines. (Proof Hub) In an
article that studied the relationship between infrastructure
capabilities and organizational performance, it was discovered
that there is a direct effect on organizational performance when
coupled with an effective Knowledge Management process.
(Imran, Ilyas & Fatima, 2019).
Discussion
Competitive Edge is the name of the game to maintain a
business in todays free market. Companies spend a lot of money
on market research to figure out what the public needs and
desires. Even in the government research dollars are spent to
figure out how something was done in the past seeking lessons
learned from within their own organization. The knowledge
management process is a way to alleviate investments in these
types of research and capitalize on knowing what is already
known. Lew Platt former CEO of Hewlett-Packard once said “If
only HP knew what HP knows, it could be three times more
productive.” (Murray, 2002). Although this is a statement made
some time ago, that theory rings true today. Understanding how
knowledge can become an asset to business and how to best
utilize this knowledge is the key to success.
Building off current know how and understanding or knowing
the future needs whether it is a product or process is the driving
force behind innovation. How to capture and disseminate both
tacit and explicit knowledge has been the key focus of
knowledge management. Tacit knowledge is the knowledge
within one’s head. In the case of business, the focus must also
be on customer knowledge or the tacit knowledge from a

7. customer’s perspective. Marketing relies on this knowledge to
create new knowledge fostering innovation to gain competitive
edge and meet market needs. (Basit, Tahir, Khan & Latif,2017).
Codifying tacit knowledge to create explicit knowledge which
facilitates dissemination of new knowledge within an
organization is the pathway to innovation. Previous research has
shown that creating an organizational learning environment and
involving every member of the work team can be beneficial to
increasing productivity and taking advantage of human capital
within the company. These alone saves money that can be
invested in other areas to become more competitive.
Every company has a business process that maps out how the
company accomplishes its mission or goals. How is this process
disseminated and understood by the entire team within the
organization? Implementing a knowledge management process
is a way to accomplish this and if implemented correctly
decrease wasted time by employees trying to learn why
something is done the way it is and focus more on how to do it
better. The amount of training that is required sometimes within
a business during the onboarding process can take months just
to get the new employee acclimated to the company and its
mission. When the new hire is replacing a key member or
management level employee, historical knowledge of what was
done before can get lost because that tacit knowledge walked
out the door with the previous employee. Properly captured tacit
knowledge in a well-structured knowledge management process
shortens the time and effort required to onboard new employees.
Knowing the who what when and where concerning the requisite
knowledge is the driver to success.
There are many collaborative tools on the market today that can
assist with capturing and disseminating explicit knowledge data.
In the wake of COVID-19 we have seen how having some of
these technologies have enabled businesses to not only remain
in business but now understand the true benefits of these
collaborative tools. Microsoft and other competitors such as
IBM have held collaborative tools such as Microsoft TEAMS

8. for some time now, more businesses are taking advantage of
these types of tools now to keep the work team flowing in a
telework environment. Products like Microsoft SharePoint and a
host of other enterprise management tools on the market today
make collection and dissemination of data across a collaborative
environment almost seamless. Companies can not only take
advantage of proprietary knowledge captured within the
organization but can also protect this knowledge from being
copied by a competitor. Having the ability to share the
information required for the organization via the company’s
intranet and not having to use the internet increases security
measures for data. In a small business having a knowledge base
tool housed on the company intranet allows managers to provide
independent learning/ training sessions for their employees.
Accessing the right information for the right person made easy
all predefined based on employee needs by the managers. This
eliminates the time it would take to research or find this
information and save money on wasted man hours and
unnecessary training. (Oros, Pester & Berbenni, 2015)
Acceptance of collaborative tools by employees of a company
or business has been a major issue with implementing a
knowledge share initiative. Companies realize the digital
storage and sharing of organizational knowledge is the fastest
and assumed most efficient way. (Taskin & Van Bunnen, 2015).
Unfortunately, some employees look at this solution as more
work or something else they must learn. Getting the workforce
to store explicit data on the share drive or repository is
normally the easy part, getting them to use it and share it is the
problem. Software companies innovate new products yearly to
make this process more intuitive and less cumbersome to assist
in acclamation to knowledge share solutions.
Although the need for Knowledge management is widely
realized and slowly starting to be accepted worldwide. In this
research, there are not enough current studies being done in the
United States on the effectiveness and value. Most studies
currently are concentrated in European countries. The United

9. States leads the world in innovative technologies and should be
leading the way in the field of managing knowledge.
Conclusion
Today knowledge drives the economy. Many studies considered
knowledge as a primary source of input for value creation rather
than the physical or traditional capital, such as land, equipment,
and raw material. (Rehman & Ahmad, 2016). Businesses should
adopt a knowledge management process and collaborative
technologies to be innovative and competitive in today’s
market. Harnessing the human capital and in-house knowledge
within an organization can promote innovation and
competitiveness. Knowledge Management and business
processes coupled with collaborative technology can cultivate
or enhance an organization’s learning capabilities thus
improving overall company performance. A well-executed
program could prove to be advantages to business sustainment
and competitiveness.
“A knowledge management system can help firms with staff
training and orientation, support better sales, or help business
leaders arrive at critical decisions,” says an industry expert
from (Infiniti, 2018).
References
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Knowledge Augmented Customer Relationship Management
Systems: An Empirical Investigation. Pakistan Journal of
Commerce & Social Sciences, 11(3), 1005–1026.
Bultrini, L., McCallum, S. H., Newman, W. B., & Sempéré, J.
(2016). Knowledge Management in Libraries and Organizations.
De Gruyter Saur.
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spiral: linking knowledge assets to company’s performance.
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10. Carmeli A, Tishler A. 2004. The relationships between
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