Knowledge management is the systematic process of finding, selecting, organizing and presenting information in ways that improve the understanding of a certain subject topic by a person. KM helps an organization gain advantage from his own experience and tacit know-how.
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"Competitive Intelligence (CI) is both a process and a product. The process of CI is the action of gathering, analyzing, and applying information about products, domain constituents, customers, and competitors for the short term and long term planning needs of an organization. The product of CI is the actionable output ascertained by the needs prescribed by an organization."Key points of these definitions: 1. CI is an ethical and legal business practice. (This is important as CI professionals emphasize that the discipline is not the same as industrial espionage which is both unethical and usually illegal). 2. The focus is on the external business environment. 3. There is a process involved in gathering information, converting it into intelligence and then utilizing this in business decision making. CI professionals emphasize that if the intelligence gathered is not usable (or actionable) then it is not intelligence.
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Knowledge Management System (KM System) refers to a (generally IT based) system for managing K. in organizations, supporting creation, capture, storage and dissemination of information. It can comprise a part (neither necessary or sufficient) of a KM initiative.