Write 7 page essay on the topic Communication in Business.allows organizations to identify their unique resources, critical functions and core competencies which are considered as essential to underst

Write 7 page essay on the topic Communication in Business.

allows organizations to identify their unique resources, critical functions and core competencies which are considered as essential to understand in order to fully handle strategic operations of the firm. Its significance therefore is of primary nature and organizations benefit from knowledge management because it allows them to learn and to adapt to the new and changing situations easily. 1.1 Purpose The overall purpose of this research is to understand as to what knowledge management and how organizations can actually use it to their benefit. Particularly, this research report will focus upon determining the benefits which can be driven by the organizations by implementing knowledge management practices. 1.2 Scope The overall scope of this research study is limited to the understanding of the benefits of knowledge management to the organizations with a purpose to outline as to how such benefits can be utilized by the organizations. 1.3 Method This research study is based upon the use of secondary sources therefore data gathering tools such as interviews and questionnaires have not been used. It is however, critical to note that credible journals, peer reviewed articles, books and good quality online resources have been used for the purpose of this study. 2 Analysis This section will describe the overall concept of knowledge management, what it is and how it can actually benefit an organization. 2.1 Knowledge Management Knowledge management provides measures and information which can collectively be used by the organizations for better understanding of their processes in order to better utilize them for business purposes.