Knowledge Management – An Essential Ingredient for Survival and Growth

Abstract

Knowledge is one of the most important and critical assets for any organization. An effective Knowledge Management system is vital for survival and a foundation for the growth and innovation initiatives. In today’s competitive red ocean market, the only tool which drives organizations is KM system. In spheres like Defence, Scientific and Medical Research -- preserving and retaining knowledge is the key function to carryout their regular business. In Information Technology field, executing software development or supporting projects etc, require complete knowledge repositories, lessons learnt documents, best practices, archives of historical information and such other knowledge management tools- without which the projects cannot be accomplished. KM tools make life easy for engineers and practitioners to handle any issues and emerging risks.