Knowledge management is a huge issue when it comes to being able to determine a certain organization’s stand in society. Gauging future success of any company can be based with results depending on its assets in terms of knowledge. Managing this knowledge asset is the key for the company’s survival as these knowledge assets are what keep the company pumping success. In most cases however, the company would also need a sturdy management of service. Service management is practically what the organization lives on. However, service management lives on another source, which is knowledge management, hence, the true importance of knowledge management, as well as the importance of keeping it going.
The ITIL® or Information Technology Infrastructure Library supplies companies with a framework for managing everything about its knowledge assets, as well as guidance for manual operations. The ITIL®’s target is to be able to support the company by keeping the knowledge asset of that company one step ahead of other companies. In other words, the framework provided by ITIL® will ensure the company making use of it to be able to perform successfully, being able to serve clients at the best possible way, by making maximum use of accumulated knowledge assets. At the same time, the ITIL® provided framework uses the knowledge assets to fix problems within the system, to record new information as it happens, and to use the provided knowledge to gain even more knowledge. When management of knowledge is the key, over time the ITIL® framework will know what to do by following its knowledge management system.