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In the year 1998, Patrick Dixon in the book Future wise: six faces of global change, predicts that the organizations can cope up with the change only through advanced learning.
Learning can be referred to as a phenomenon of acquiring or modifying existing knowledge, skills or value so that an individual can develop their personality with respect to that learning area (Holsapple, 2013).
The management of the organization needs to take initiative to share the right knowledge to the right people and at the right time.
Ensuring this will enable the company to maintain its competitiveness in the market and utilize the knowledge and resources of the organization in the right time (Litvaj and Stancekova 2015).The Techworld Australia is implementing knowledge management initiative in an effective manner to maintain its competitiveness in the Australian market.Effective knowledge management includes vast and varied knowledge and resources in the company along with the use of sophisticated tools required to curate and communicate the flow of information in every level of the organization.The tools and services are implemented in order to increase the ability of the company to eliminate departmentalization and initiate innovation in every levels of the organization and respond to the changing external business environment (Grant 2015).The importance of knowledge management in an organization is to allow the company to acquire the right kind of information at the right time to all the departments of the organization.Organization in the recent years has been focusing on learning methods rather than providing the monotonous training to their employees.This is because mere just giving the knowledge about work will not help the organization's to grow in this changing world.Knowledge management is highly important factor for the success of any busness organization.The business organizations that efficiently share the internal knowledge and information ensure a long term success in the organization.This in turn helps the business organization to gain competitive advantage and ensure long term success of the organization.The company contains wide range of talents and skills, therefore having the right knowledge management solution will enable the company to allow the teams to communicate and share the information in all the levels of the departments.