An Analytical Study of the Prospects & Challenges of Applying Knowledge Management Practices in Educational Institutions

Knowledge is an important factor in current global environment and business competitiveness. It is also considered to be the highly valuable asset for an organization in future. Moreover, knowledge is a kind of intangible and it is difficult to measure and transfer. Therefore, management of knowledge becomes an important issue, and knowledge becomes a key factor for success of a firm. Consequently, evaluating the performance of Knowledge Management is becoming increasingly significant, as it fosters strategic organizational learning and provides the solutions to become competitive and introduces the capabilities required to meet customer needs. Most of the respondents agreed on the importance of knowledge management. Different people from various departments gave their input and helped in understanding the current flaws of the system in education, and also provided some valuable suggestions regarding use of knowledge management for improvement of system and standard of education.