Knowledge management is a way for businesses to use information effectively to improve performance. It involves getting the right information to the right people at the right time. By having a good system in place, employees can create, share, and reuse knowledge. Factors like intellectual capital and innovation are important for success. Businesses are moving towards systems that focus on people rather than just documents. Using games can help make knowledge management more effective. Challenges include things like company culture and lack of incentives for sharing knowledge.