Abstract:

Knowledge refers to the practical skills to create solutions to existing problem(s) entailing insight, understanding, technical know-how or the ability to function intelligently (Wiig, 1997). It is highly sought after because it is considered as the panacea of solving problems in the society. Acquiring and applying requisite knowledge enables individuals, organizations and society attempt likely solutions to existing challenges. Knowledge is served on the basis of information. Information is data with context. Therefore, knowledge is information with meaning, precisely applied with both insight and sound judgement (Leibold, Probst &Gibbert, 2005). This definition points out that there could be a technologically active environment, an information overload or even highly skilled workers yet an existence of knowledge starvation.