| Summary: | Knowledge management (KM) has been in the arena of today's world for more than a decade. KM has yet to be defined as a discipline of science. To some researchers, it is denoted as a multidisciplinary problems characterized by a number of core theoretical ideas, which include data and information management techniques, artificial intelligence, organizational theory and behaviour, sociology of knowledge and knowledge representation, and business economics and strategy. Nevertheless, within a short span of time, KM is believed to be a tool for designing an organization's goals, structures, and processes as to learn and to create value for its customers and community. It is also argued as a planned, structured approach to manage the creation, sharing, harvesting and leveraging of knowledge as an organizational asset, to enhance an organization's ability, speed and effectiveness. Different aspects of KM have been discussed by academicians. However, most academicians unanimously pointed out KM as a new innovation in knowledge. Therefore, to understand the KM concept, this paper will laid out KM brief development, its importance and process in enhancing work performance and improvement of organizational standards. © 2012 IEEE.
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