Knowledge Management Cycle is defined as the

Knowledge Management Cycle
is defined as the process of transforming information into knowledge within an
organization. There are many types of knowledge management cycles such as Zack,
Wiig, and McElroy etc. However, this discussion will be focusing on the Zack
and Wiig cycles.

Zack knowledge
management cycle is derived from work on design and development of information
products. Information products are information that are available to an
organization’s internal and external customers. This cycle provides information
about the physical products as well as it can be easily extended to the
knowledge products. In this cycle there are technologies, facilities and
processes that are used for manufacturing products and services.

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There is also the use of
analogies in this cycle such as the notion of a product platform such as a
knowledge repository and an information platform such as knowledge refinery
that is used to emphasize higher value-added processing required to leverage
the knowledge of an organization. The stages in this cycle are acquisition,
refinement, storage, distribution and presentation. One shortcoming in this
cycle is that the knowledge repository and refinery have to be continually
renewed in order to avoid obsolescence.

The Wiig cycle focuses
on three key areas that needs to be present in order for an organization to be
successful. It must have business and customers, resources to satisfy the need
of customers and the ability to act. This cycle addresses how organizational
memory is put to use in order to generate value for individuals, groups and the
organization itself. There are four steps in this cycle and they are build,
hold, pool and apply.

The cycle I would
utilize is the Wiig cycle because it focuses on the areas that any organization
needs to pay full attention to in order to be successful. An organization could
have all the knowledge in the world but once there is a defect in any of the
key areas there will be issues. For example, without the proper resources such
as employees and capital, an organization will not be able to satisfy their
customers’ needs. Also the steps in the cycle is simple and easy to follow.