Business Knowledge Management Strategies

Knowledge Management (KM) is one of the growing apprehension in existing business in the new age of the complex and quickly changing business environment, and it has been realized that knowledge is the organization's critical asset and latent strategic resource that gives a basis for competitive advantage. At this situation, banks require to use knowledge and it prone to implementation related applications of knowledge management. One of the most important issues to implementation of knowledge management is how to select appropriate KM strategy. It is a kind of multiple attribute decision-making (MADM) problem required to consider a large number of complex factors. To determine the knowledge management strategy, there are many influencing factors. The purpose of this paper is to ranking the appropriate KM strategy with TOPSIS and VIKOR, and prioritization the effective important factors for evaluating KM strategies for reducing the cost and time. Additionally, an empirical study is presented to illustrate the application of the proposed method.