An organization's ability to face challenges - like those brought about by the Internet and other technological innovations - depends not only on delivering products and services and concentrating on core competencies but also on recognizing just what its challenges are. Harnessing knowledge in a structured way can help a company better define its challenges, and a knowledge management, or KM, program supplies this structure.

Academically, knowledge management is perceived as a required discipline for organizations to manage intellectual capital and create an environment that challenges the corporation's creativity. During the last five years, however, many organizations have begun KM programs, with little success.

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