Role of Knowledge Based Communities in Knowledge Process

In the new economy, knowledge is an essential component of economic and social systems. The organizational focus has to be on building knowledge-based management, development of human resource and building intellectual capital capabilities. Knowledge-based management is defined, at company level, by economic processes that emphasize creation, selling, buying, learning, storing, developing, sharing and protection of knowledge as a decisive condition for profit and long-term sustainability of the company. Hence, knowledge is, concurently, according to a majoritiy of specialists, raw material, capital, product and an essential input. Knowledge-based communities are one of the main constituent elements of a framework for knowledge based management. These are peer networks consisting of practitioners within an organization, supporting each other to perform better through the exchange and sharing of knowledge. Some large companies have contributed or supported the establishment of numerous communities of practice, some of which may have several thousand members. They operate in different ways, are of different sizes, have different areas of interest and addresses knowledge at different levels of its maturity. This article examines the role of knowledge-based communities from the perspective of knowledge based management, given that the arrangements for organizational learning, creating, sharing, use of knowledge within organizations become more heterogeneous and take forms more difficult to predict by managers and specialists.