I think Knowledge Management is one of the vital aspects an organization must consider in order to survive. With the continuing influx of employees in any industry, the challenge now is how to pass the knowledge from one person to another. Such is the case of almost any organization. One may find it difficult to transfer the information or skills to a newly hired worker. For example, a very competent employee can choose to leave his organization if he finds any job that can give him more benefits than the one he is employed in. This is usually the case of any business oriented organization.
Knowledge Management helps the workers to systematically adapt the skills of the person who has the important knowledge of the occupation. It is important to effectively learn the experience of the people behind the successes or failures of the organization. This would allow the newly recruited people to take heed or learn from their predecessor so as to avoid complications in their work in the future. In our institution, it is indeed an important part to learn any skill through an effective Knowledge Management. As a bank, our organization must continue operating even we lack man power because we are competing with other banks. Stopping the operation would sanction us and penalty will only take us to our disgrace. It is not a reason to halt our banking operation just because some of the employees do not know how to perform the job they are obliged to work in.
I think one of the barriers to implement this concept is that some of the predecessors would not like to share their knowledge to other for the reason that they want to monopolize their discovered skill. They only want to keep it for themselves so that they may not be easily replaced by other. They might feel insecurity if they think that they would be worse off after knowing that other people can take their place. This selfishness can potentially damage an organization.
However, the organization has to find a way to effectively implement Knowledge Management in the organization. This transfer of knowledge gives empowerment to other people so as to improve not only their personal standing but also the welfare of the organization,