Nowadays, with the support of knowledge management, numerous instruments and models of knowledge management are obtainable to organizations to acquire competitive advantage. Such development provides power to organization to manage and deal with actual business issues without difficulty. Organizations are in the habit of sharing and having to transmit knowledge to employees. However, there are challenges while transmitting important knowledge. Technology can contribute to the creation of knowledge but cannot stimulate or motivate knowledge sharing without the involvement and commitment of people within the organization. Hence, knowledge management can be viewed as either system or a model which will facilitate the development of processes to gather and share knowledge.
Oil companies, like British Petroleum, operate according to the capacity and capability of its human resources, technologies, infrastructure, and natural resources. If one of the components changes, it affects the production, planning, and processes of the industry. In the present global setting, based on the technological and social development worldwide, organizations are obliged to adopt knowledge management systems as an important technique to manage the global competition and to enhance their ability to overcome challenges in their operations regardless of the organization’s size. Hence, knowledge management becomes the most important component for the oil industry. Knowledge of the top management and executives within the oil industry probable to retire in the near future, if not efficiently managed, may result in loss of knowledge or produce vast knowledge gap, particularly in the oil industry. In these circumstances, mere knowledge management can offer ways to solve knowledge loss.
Oil firms, like British Petroleum, were early implementers of knowledge ...Show more