Knowledge Management: Understanding Theory and Developing Strategy

Knowledge management has become the latest strategy in increasing organizational competitiveness. Proponents are calling it the only solution for competitive advantage in the new century (Evans, 1997; Hedlund, 1994; Hibbard, 1997; Martinez, 1998; Trussler, 1998) and critics are calling it the worst in passing fads (Hibbard, 1997). Robert H. Buckman, CEO of Buckman Labs, says the purpose of the knowledge management and sharing system at his corporation is to “facilitate communication across all of the organization's boundaries, so that the entire company works together to help everyone to be the best they can be” (Buckman, 1998, p. 11). Buckman Labs has become the first name in knowledge management with its innovative and relatively long‐standing (since 1991) approach to harnessing employees' collective knowledge.