Compose a 2250 words essay on Knowledge Management: Here to Stay or Management Fad. Needs to be plagiarism free!A management fad is a short-lived idea that is important and accepted for a short time,

Compose a 2250 words essay on Knowledge Management: Here to Stay or Management Fad. Needs to be plagiarism free!

A management fad is a short-lived idea that is important and accepted for a short time, but then fades either because it is not successful or because something else replaces it. Other business ideas last and become an important part of most organisations. The opinions on the status and importance of knowledge management vary widely. Holtham (1997) dismisses knowledge management as just another transient management fad that will soon fade and be forgotten. David J. Skyme (1999) describes a survey that found “over half of European and UK managers thought that knowledge management was a fad.” Senge (1990) goes even further on the negative side and argues that many organisations are unable to function as knowledge-based organisations, suggesting that knowledge management will not only fade, but will cause organisations to fail. Koenig (1996) has a more balanced view and accepts the importance of knowledge management. However, in doing so recognizes that knowledge management is just a new name for information management processes and procedures that have been around for decades. Others are far more positive about knowledge management. Drucker (1993) has described knowledge, rather than capital or labour, as the only meaningful economic resource in modern society. The variety of the views expressed shows that knowledge management is well worth looking into further.

The following analysis will focus on describing knowledge management and considering what impact it has had in the business world, while also exploring the reasons why knowledge management has not succeeded in all organisation.