What is the knowledge management cycle?

Knowledge Management Cycle (KMC) converts information into knowledge within the organization. Later, the organization can utilize this knowledge to process, change and improve some aspects within or beyond the organization. There are 4 steps in the Knowledge Management Cycle:

1. Acquisition: Acquiring or getting a new piece of information.
2. Storage: Storing or saving the data to a relevant system.
3. Distribution: Sharing the information to the relevant figures.
4. Implementation: Using knowledge to create, improve, or rectify the current or new procedure.