Knowledge Management

What is knowledge management?

Knowledge management (KM) is the systematic discipline of capturing, organising, sharing, and applying knowledge within an organisation. It is both a strategic framework and a practical set of processes and tools designed to ensure that information and expertise are not only preserved but also actively leveraged to create value.

At its core, KM distinguishes between explicit knowledge (documents, manuals, data) and tacit knowledge (skills, experience, intuition). A strong KM strategy combines technology, processes, and culture to make knowledge accessible to those who need it whenever they need it.

In our information-rich digital age, many organisations now have dedicated resources and roles for knowledge management as part of their business strategy; these knowledge managers may fall under the umbrella of human resources, IT, business or other teams.

Why is knowledge management important?

Knowledge is one of an organisation’s most valuable assets. Without effective KM, insights remain siloed, duplication increases, and institutional memory fades when employees leave. Key benefits of KM include:

• Enhanced decision-making: Leaders base strategies on evidence, not guesswork.
• Operational efficiency: Teams avoid “reinventing the wheel” by reusing proven resources.
• Innovation and collaboration: Sharing ideas fosters creative solutions.
• Risk reduction: Centralised knowledge supports compliance and governance.
• Resilience: Institutional knowledge is preserved even amid staff turnover.

In short, KM transforms scattered data into organisational intelligence that drives performance.

How does knowledge management work?

Knowledge management typically follows a lifecycle model, which can be broken down into four key stages:

1. Knowledge Capture
   a. Identifying and collecting tacit and explicit knowledge
   b. Examples: interviews, process documentation, data collection.
2. Knowledge Storage
   a. Organising knowledge in structured repositories, databases, and document management systems.
   b. Examples: internal wikis, digital libraries, secure archives.
3. Knowledge Sharing
   a. Facilitating access across teams and departments
   b. Examples: collaboration platforms, intranets, training sessions.
4. Knowledge Application
   a. Embedding knowledge into workflows and decision-making.
   b. Examples: analytics dashboards, policy updates, AI-powered insights.

This cycle is continuous, knowledge is constantly refreshed, recontextualised, and reapplied as organisations evolve.

Types of knowledge management

Knowledge comes in different forms, and KM strategies must address each effectively:

Type of Knowledge	Description	Examples
Explicit	Clearly articulated, easy to codify	Manuals, reports, research databases
Tacit	Personal, experience-based, harder to formalise	Skills, intuition, professional expertise
Embedded	Built into processes, routines, and systems	Standard operating procedures, software workflows

Successful KM programs recognise that tacit knowledge is often the hardest to capture but the most valuable when shared.

 

Examples of knowledge management in practice

Knowledge management is relevant across industries:

1. Consulting agencies: Internal best practice repositories help global teams align strategies.
2. Investment firms: Clinical knowledge bases store treatment guidelines, improving patient outcomes.

In each case, KM ensures that critical knowledge flows seamlessly across teams, enabling smarter, faster, and more accountable decision-making.

 

Knowledge management summary

 

Term	Knowledge Management
Definition	Discipline and processes for capturing, organising, sharing, and applying organisational knowledge
Used By	Corporations, investment firms, nonprofits
Key Benefit	Better decision-making, reduced risk, stronger collaboration
Example Tool	Nexis+ AI

 

How LexisNexis can help with knowledge management

Nexis+ AI is uniquely positioned to enhance knowledge management strategies by combining AI-powered discovery with trusted LexisNexis content. With Nexis+ AI, organisations can:

• Uncover insights quickly using natural language queries and semantic search.
• Contextualise knowledge by linking relevant legal, news, and business intelligence.
• Reduce research time by surfacing the most relevant, authoritative results first.
• Support compliance and governance with reliable, curated sources.

By embedding Nexis+ AI into a KM framework, organisations transform raw data into actionable intelligence, driving stronger outcomes across legal and corporate contexts.