Communities of Practice consists of networks in which the members can exchange ideas and knowledge concerning a particular issue. In the business field, it is important to ensure that there is effective knowledge management for one to remain relevant and competitive. Communities of Practice is thus a significant tool that enterprises can use to make sure that information flows within the organization. There are some benefits that an enterprise can reap from the utilization of Communities of Practice to realize knowledge management. For instance, problems can be tackled faster and effectively because of the exchange of ideas and advanced innovations (Hildreth & Kimble, 2004). The paper reviews knowledge management and Communities of Practice and the relationship that exists between the terms.
Globally, organizations have become aware of the necessity of gathering, creating, sharing information. There is a better understanding of the importance of the knowledge to any business, and more people are tapping into this intangible asset in comparison to the past. Information and the intellectual resources are the essential aspects that an organization requires for it to withstand the increasing competition. Knowledge management enables the business to bring together the various ideas and skills that it possesses and hence enhance its capabilities (Ackerman, Pipek & Wulf, 2003). The achievement of this necessitates information transfer among the organizational members. In the process, the enterprise can realize organizational learning that ensures that there is always a focus to develop, share, and retain skills and knowledge. Having unending cycles of information and knowledge flow ensure that there no loss of this expertise and skills at any point.
There are numerous advantages that an organization can obtain from implementing knowledge management into their daily activities. First, there is a considerable improvement in productivity of individuals and the organization as a whole according to King (2009).
