KNOWLEDGE MANAGEMENT AND COMPETITIVE ADVANTAGE: CONTEMPORARY THEORY, PRACTICE, AND TRENDS Branislav Mašić Ekonomski fakultet Pale, Univerzitet Istočno Sarajevo/Faculty of Economics Pale, University of East Sarajevo Milenko Dželetović Fakultet bezbednosti, Univerzitet u Beogradu/University of Belgrade, Faculty of Security Studies Davor Nikolić Fakultet za pravo, bezbednost i menadžment „Konstantin Veliki” Niš, Univerzitet „Union-Nikola Tesla” Beograd/Law, Security Studies and Management Faculty „Konstantin Veliki” Nis, University „Union-Nikola Tesla” Belgrade https://doi.org/10.7251/ZREFB1812031M

Published 10/31/2018 Volume 12, Issue 1, 2018

ABSTRACT

One of the most significant factors in creating competitive advantage of an organization is its capability to effectively use existing knowledge and to create new knowledge. Concept of Knowledge Management (KM) has been widely recognized as an important management tool. But, in spite of a marked decrease in the use of formal Knowledge management programmes in organizations, exchange of information and applicable knowledge is of great importance to organizations. Nowadays, companies continually need to adjust to new technologies and ever-changing business environment. Therefore, companies need to find ways to identify useful, applicable knowledge and to create and develop a knowledge sharing culture as to encourage the exchange of employees’ knowledge and experiences and the creation of new knowledge. Modern technologies, on the other hand, could increase the knowledge management overall effectiveness as they contribute significantly to the support of KM processes. This is particularly important in the process of creating new, distinctive knowledge in an organization.

Keywords: Knowledge management, competitive advantage, management tools, information technologies.

 

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