Knowledge management as a basis for modern innovations

Abstract

Contemporary global challenges engender the necessity of developing new approaches to management. Currently, companies compete not just with goods and services but with knowledge and abilities to effectively utilize them.Purpose of the research. This article aims at examining the conceptual and categorical apparatus of the studied topic and building initial grounds for knowledge management understanding.Methodology. The paper presents a comprehensive literature review of preceding research on knowledge management in peer-reviewed journals of various electronic databases since 1987, including using «Harzing's Publish or Perish» software. In addition, research works in philosophy, sociology, economics, information systems, and other sciences were studied. Based on the research results, the concepts of «data», «information», «knowledge» and "knowledge management" were structured.Originality / value. Knowledge management as one of the relatively new types of management arouses interest from representatives of the scientific and business community along with skepticism about its uniqueness, necessity, and basically about its semantic component. This is especially noticeable in the works of information management scholars. However, researchers in the field of innovation associate knowledge management in companies with the possibility of obtaining a competitive advantage.Findings. The study showed that considering the above-mentioned concepts as synonymous was a misconception, this leads to a misinterpretation of the object of management - knowledge, and, thus, forms a superficial idea of the function and activity of knowledge management managers. The study of the relationship between people, business processes, IT technologies, corporate culture, and other factors within the knowledge management system in the company should be the next step to continue this research.