Abstract:

Knowledge and working with knowledge are currently becoming not only the most valuable but also the most difficult tasks which a company can perform. The basic economical resources are not only materials, natural resources or labour, but first and foremost - people. Companies should understand that the greatest wealth that they have lies in the qualities, knowledge and intelligence of their personnel. To-date, organisations in the Czech Republic have not paid sufficient attention to Knowledge Management and its principles. This orientation on Knowledge Management is supported by the fact that managers who successfully master their duties, make use not only of their professional knowledge and skills and abilities – i.e. an understanding of the problems and issues involved, but their practical skills and abilities – like team work, communication skills, and the effective use of available human resources in the form of motivation. One of the factors which is decisive for the success of a manager is their ability to acquire and use information and knowledge in a practical way. The main aim of this paper is refer to qualitative and quantitative research into Czech business companies over the last three years. Within the overall framework of this research study, we shall identify the infrastructure of the extant knowledge management, Knowledge Management Application strategies and, the key activities of knowledge management needed to improve and to innovate a company´s competitiveness. In the article`s conclusion, practical suggestions are put forward for the application of Knowledge Management in Czech business companies – on the basis of the progressive sequence of the creation - identification - sharing - understanding and use of knowledge in practice.