KNOWLEDGE AND INFORMATION MANAGEMENT IN THE COMPANY AS A STRATEGIC BUSINESS RESOURCE

The beginning of this century brought profound changes in the approach to strategic management, as companies faced a faster pace of change in the environment, as well as an increased volume of information and knowledge. While managers previously made strategic decisions within the framework of a limited amount of information, today they are expected to effectively manage knowledge, both organizational and competitive. Organizational knowledge management has become a key factor in making the right decisions and achieving competitive advantages. It includes not only collecting and analyzing data, but also the ability to use knowledge in the right way, through innovation, process improvement and rapid adaptation to market changes. Top management must now integrate knowledge management into strategic management in order to ensure the long-term growth and sustainability of the organization. Given that knowledge management requires the engagement of key people within the organization to carry out this process, managers are facing new challenges. Managerial competencies are becoming the focal point of this transformation. Increasing the individual competencies of each manager becomes necessary so that the organization can function as a whole that effectively uses its knowledge. In addition, the development of managerial competencies must be directed towards the management of different types of knowledge – from tacit (informal, experiential) to explicit (formal documentation and procedures), and enable synergy between these types. The development of managerial competencies and knowledge management are not separate processes, but take place in parallel. Managers must constantly improve their abilities in order to be able to effectively manage different aspects of knowledge, while the organization must develop the capacity to quickly transfer and apply new knowledge in daily operations and strategic planning.