Knowledge Management – The Key Driver for Growth

Abstract

Knowledge today is more comprehensive and complex than before. In the era of globalization changing technology requires adaptation at a breathtaking rate. Knowledge is ability of adaptation to changing condition and is now regarded as a most valuable and critical resource for creating sustainable competitive advantage. Thus paper states and explains the concept, background origin of knowledge as a driving force for today’s organisation.
Knowledge management is a new branch of management for achieving breakthrough in business performance through the synergy of people, process and technology. Its focus is on the management of change, uncertainty and complexity.
The paper highlights the issues about knowledge management which acts like a key force in a business organisation. If a knowledge management is properly maintained and integrated, it can act as a source of power for the business organisation because of its dynamic nature. With this tool, organisation can achieve developmental results, increase organizational flexibility, can create desire and motivation among workforce and can also help in talent retention, the major concern of organisation today.
“In tomorrow’s business environment, knowledge and how it is managed for competitive advantage will be the number one corporate priority.”