Knowledge management as a strategic resource for organizational development

Relevance. Transformation processes in the modern economic environment are characterized as highly dynamic with accelerating rates at both the micro and macro levels of economic systems. The speed of transformations is constantly growing, making competition increasingly tough and forcing business entities to adapt to new business conditions. In these conditions, the formation of a knowledge management system as continuous management of an organization can become a useful tool and a key to acquiring competitive advantages for an organization. The purpose of the work is to determine the role of knowledge management as an important resource and a key factor in the economic success of an organization, allowing it to adapt to new business conditions. Objectives: to reveal the essence of knowledge management in organizations; to highlight the main problems associated with the need to identify and manage the organization's knowledge. Methodology. The following methods were used to solve the research objectives: process-functional, methods of analysis and synthesis, the concept of management effectiveness - to improve the methodological approach to assessing knowledge management in an organization, identifying areas for increasing the effectiveness of using knowledge in business processes; theoretical generalization - to identify the types of enterprise knowledge. Results. Knowledge management in an organization is a way to make a profit and ensure competitiveness in the long term. The introduction of the knowledge management concept into the enterprise management process has a multifaceted applied significance, which lays the objective prerequisites for acquiring sustainable competitive advantages in market conditions. management. Conclusions. The role of knowledge management is substantiated based on the thesis "knowledge is the main resource of economic development in modern conditions", which made it possible to establish the need for the formation and effective implementation of intellectual capital (education, science, professional training, development of creativity, innovation). It is proven that the results of using the organization's knowledge are innovative products and technologies, strategic competence and competitive advantages in the market, new organizational models of cooperation, accumulation and transfer of experience.