Knowledge Life Cycle Management: Necessities and Functions

The main goal of knowledge management is to create and organize an environment in which people develop their knowledge, exchange it with each other, combine the knowledge of others with their own knowledge, and finally apply it. The application of knowledge, in turn, will lead to innovation in the organization; therefore, knowledge management is often recognized as the main source and reference of innovation and is one of the basic requirements of the innovation process in the organization.