COMPETITIVE ADVANTAGES OF USING KNOWLEDGE MANAGEMENT IN INTERNATIONAL COMPANIES

Abstract

The article is devoted to the topical issues of determining the competitive advantages of using knowledge management in international companies. Knowledge management tools for international companies have been analyzed and systematized. The world experience of using knowledge management in international companies was studied. The main modern features of «knowledge» are singled out. Knowledge management is considered as a process of organizing, creating, using and sharing collective knowledge in an organization. It has been proven that successful knowledge management involves keeping information in a place where it can be easily accessed. Only a few initiatives can truly change the way an organization works, and knowledge management is one of them. A knowledge management system aims to create a single, trusted source of truth where everyone can find the information they need, without having to search multiple sources or constantly bombard key personnel with repeated questions. The article considers knowledge management as a process of organization, storage and distribution of information within any international company. International companies that use a knowledge management strategy have been found to achieve the best results quickly. It is the practical use of knowledge management that will increase the level of organizational learning and cooperation between team members, and will help make the right decisions in business faster. It will also lead to satisfaction in training and adaptation in employees. Well-executed knowledge management has been proven to optimize a company's knowledge, making it accessible and practical for everyone in the organization. Thus, it can be argued that with a good knowledge management system, your entire company can say goodbye to lost or closed information. A company that supports a culture of knowledge sharing is one that creates a flexible, coherent, engaged, sustainable and high-functioning team. But the main obstacle in the implementation of knowledge management can be a low level of culture of an international company or an insufficiently high level of use of information technologies.