Knowledge Management in Indian Enterprises

In the current climate of increasing global competition, the value of Knowledge and learning in improving organizational competence cannot be overestimated. Managers are attempting to use Knowledge to sustain organizational performance and to gain market share. Effective Knowledge Management is indeed critical, as SMEs strive to enhance their competency and to gain economic edge. An increasing number of firms are realizing that Knowledge Management can be used to create business value, generate competitive advantage and achieve business goals and to develop greater value from the core competencies of the business. Knowledge management research is fragmented across a variety of disciplines. Companies attempting to deploy Knowledge Management may be confused by the variety of efforts under way that all in the name of Knowledge Management. Many companies have tried, with mixed success, to leverage Knowledge assets by centralizing Knowledge Management functions or by investing heavily in information technology. Caught up in general fever, many managers may assume that Knowledge Management can improve their companies. This assumption should be validated by using empirical tests. The key question is not whether to manage Knowledge but how to manage it. In the 21st century, as some argue, the main competitive advantage that companies have is connected to the knowledge they hold and how they utilize this knowledge. Effective implementation of KM practices has become a key strategy for improving organizational performance since suitable management and application of knowledge can assist organizations to be more creative, intelligent and better able to adapt to an ever changing business climate.