Meaning ● Strategic Knowledge Management, within the context of Small and Medium-sized Businesses (SMBs), involves the deliberate creation, storage, sharing, and application of knowledge assets to achieve sustainable growth. Consider it a systematic approach to leveraging intellectual capital to fuel business expansion. ● Implementation strategies often necessitate technology adoption for efficient knowledge dissemination. This strategic framework promotes better decision-making and operational efficiency, and ultimately aids SMBs in automating key processes by ensuring that critical expertise is readily accessible. ● A key aspect of successful automation implementation within an SMB lies in effectively using internal data and employee experiences for process improvement. Further, proper execution significantly enhances competitive advantage, which translates to an increase in profitability by reducing operational costs and improving customer satisfaction. Therefore, SMBs must actively manage knowledge as a core business function to compete effectively in the modern business landscape.
