The purpose of this article is to provide a comprehensive review and critical examination of knowledge management (KM) concepts, processes, and tools, highlighting their significance for enhancing competitiveness in today's business landscape. We trace the evolution of KM, delineating key processes such as knowledge creation, sharing, and application, and classify KM tools into technical and non-technical categories, underscoring their complementary roles. Through a detailed literature review, we identify and tackle the predominant challenges in KM, particularly emphasizing the difficulties associated with managing tacit knowledge. Our findings reveal innovative strategies for leveraging information technology in KM to automate decision-making processes and foster novel applications. Furthermore, we propose practical solutions for the efficient storage and sharing of tacit knowledge, addressing a critical gap in the literature. The study not only enriches the KM field by providing a synthesized overview of existing research but also contributes novel insights by highlighting specific challenges and offering evidence-based recommendations for practitioners. In conclusion, our research elucidates the multifaceted benefits and challenges of KM, paving the way for future studies to explore uncharted territories in the KM landscape.
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