Ontology-based knowledge management framework in business organizations and water users networks in Tanzania

Abstract

Todays’ economy is considered knowledge economy this is because formation and utilization of facts is crucial and plays a major part in the creation of wealth. Economic achievement is progressively founded upon the actual consumption of invisible assets such as knowledge, skills and innovative potential as the crucial source for competitive advantage (Barkhordari et al., 2019). This emerging economic structure is thus referred to as the knowledge economy (ESRC, 2005). The current movement of globalization has necessitated the world, regions, and countries in particular to aggressively participate in the world-wide economy; thus, rivalry is the foremost influence in the process. This was based on the understanding and recognition that the traditional factors of production (Land, Labor, and Capital) which were plentiful, available and were regarded as prime in attaining economic gain have limitations. Knowledge received scanty attention and thus of less importance in attaining competitive advantage, currently, it is the knowledge-based economy characterized by the use of information technologies that counts more (Kefela, 2010). Thus, this implies that, earlier well recognized factors of production are presently not sufficient to sustain a firm’s competitive advantage as knowledge plays crucial role. Most organizations understand the relevance of available information in attaining sustained competitive edge than others. Knowledgedependent economy is founded on the invention, sharing and application of knowledge and information. Yoong and Molina (2003) opined that one means through which business organization can thrive in today’s tempestuous commercial setting is through appreciating, the recognition and utilization of knowledge in the organization. Organizational effectiveness in both business and water or irrigation networks likewise hinge upon making good use of this knowledge, which needs to be established, apprehended and exchanged (knowledge management) so as to form firm capital (Omotayo, 2015). Thus, individual enters and leave, but firm preserve knowledge over time. Or as articulated clearly by Fitz-Enz (2000), company capital knowledge remains with the organization when the workers quit. Human capitalis the cognitive assetthat leaves the company every night and so cannot easily be manipulated. This is because they choose where and how they want to invest their knowledge. Consequently, knowledge management (KM) turns out to be a serious action in realizing outcomes.