Knowledge management is the process of capturing, distributing, and effectively using knowledge within an organization. It involves creating systems and practices that help collect valuable information, experiences, and insights from employees, making it accessible to everyone. This ensures that knowledge is not lost and can be utilized to improve decision-making and innovation. By implementing knowledge management strategies, organizations can enhance collaboration and learning among their teams. Tools such as databases, intranets, and collaboration software are often used to facilitate the sharing of information. Ultimately, effective knowledge management leads to increased efficiency and a competitive advantage in the marketplace.