Knowledge is recognized as a crucial resource in the knowledge-based economy; and it is believed to drive sustainable success in organizations. Knowledge management (KM) helps organizations identify, create, organize, distribute and transfer vital knowledge among employees within and across organizations. The underlying premise is that good KM leads to efficiency and effectiveness, which in turn, influences the total performance in an organization.
The Role of Knowledge Management in National Development
Knowledge Management is crucial for Africa’s socioeconomic growth and development and should be at the center of the continent’s development agenda. Knowledge is integral to people’s lifestyles and, therefore, creation, processing, storage and systematic transfer of knowledge is necessary for ensuring transformative development of the continent. The increasing attention to knowledge and Knowledge Management from the international Community is a positive trend, and may lead to more effective implementation of the 2030 Agenda and the SDGs.
The Kenya Vision 2030 acknowledges the central role of knowledge in boosting wealth Creation, social welfare and international competitiveness. The Vision envisages a knowledge-led economy where the creation, adaptation and use of knowledge is a critical factor for rapid socio-economic growth notably fundamental thread that runs through the Kenya Vision 2030 is the desire for Kenya to ultimately become a knowledge-based economy. In such an economy, technology, knowledge and skills play mare profound roles in socio-economic growth and competitiveness than any other factors of production such as labour, capital, and natural resources.