Briefly describe the term knowledge management. Explain two basic types of knowledge.Why is Knowledge management in present day organisations

A.Conceptual Framework: (5 Marks)Introduction:ØThe introduction part must clearly highlight the concept of knowledge and how is it different from Data, and Information.ØBriefly describe the term knowledge management. Explain two basic types of knowledge.ØWhy is Knowledge management in present day organisations.(Provide minimum 3 references to support your answer.)B.Knowledge management cycle: ( 5 Marks)ØDiscuss in detail the Meyer and Zack knowledge management cycle and Bukowitz and Williams knowledge management cycle.ØDescribe how the major types of knowledge (i.e., tacit and explicit) are transformed in the Nonaka and Takeuchi knowledge spiral model of KM.ØHow is the Wiig KM model related to the Nonaka and Takeuchi model? In what important ways do they differ?(Support each part of the assignment with Proper references)