Discuss the concept of knowledge management. Why is knowledge management important today? Write a detailed paragraph on three generations on knowledge management.

The Assignment structure is as follows:

Introduction: (5 Marks)

• Discuss the concept of knowledge management. Why is knowledge management important today? (300-500 Words) (2.5 Mark)
• Write a detailed paragraph on three generations on knowledge management. (450-750 Words) (3 Marks)
• Describe the terms, Data, Information and Knowledge. Discuss two major types of knowledge. Compare the properties of these two major types of knowledge. (400-500 Words) (2 Mark)

Knowledge management cycles and Models: (5 Marks)

• Discuss in detail Wiig’s KM cycle. How is it different from McElroy’s KM cycle. Write minimum two points of difference. (Minimum 500 words) (2.5 Mark)
• Describe how the major types of knowledge (i.e., tacit and explicit) are transformed in the Nonaka and Takeuchi knowledge spiral model of KM. Use a concrete example to make your point (e.g., a bright idea that occurs to an individual in the organization). (2 Mark)
• Which transformations would prove to be the most difficult? Why? (0.5 Mark)
• Which transformation would prove to be fairly easy? Why? (0.5 Mark)

References:(2 Marks). 0 Mark for No references, Less than 5 References (1 Mark) More than 5 references 2 Marks.