Knowledge management is the retention, identification, efficient use, and retirement of business insight. This helps businesses grow and evolve while creating an intelligent work force that can learn and adapt to change. In the business world today social media and the internet provide new challenges for the existing way knowledge management is used. One of the best possible solutions for social media and web content knowledge management is to implement a specialized knowledge management system. One of the major challenges now is that employees feel that they are devaluing themselves by sharing knowledge and collaborating on a regular basis. Also, because social media builds communities of learning and sharing, it is difficult to control knowledge management for a business. The policy formed by a business may be subject to a multitude of different opinions and problem solving techniques because knowledge and information is shared instantly through social media. As a business builds its system it can easily be picked apart. This means that businesses have to create their own specialized system in order to keep up with changes as well as control how the system works. This is not to say that the information has to be controlled but guided to work for a business in the most efficient way. This can be very difficult in a technical way as well. It is hard to organize the amount of information now because people will turn to public search engines and forums to gather information. Your knowledge management system has to be a balanced source of structure and crowd sourced information.
The world of social media and the internet have also changed knowledge management for the better. If employees know how to utilize social media and the internet, the entire system structure changes and can be incredibly useful. If a company has a problem they are trying to solve or even a specific task, they can use a crowd sourcing site. This should not always be the solution but in certain circumstances it can be vital for a business. If your business does not possess the expertise to complete a task it is now easier than ever to outsource or crowd source using social media or programs to contract out work. Social media can also be used internally to help businesses thrive. If all of the employees can communicate and work as a team no matter where they are, tasks can be completed more efficiently. Businesses can also utilize technology to train their work force and teach new practices quickly through certain programs. KMS systems are evolving to help business retain and share more information better than ever before.