Role of Knowledge Management in Organisation, A Powerful Tool for Gaining Competitive Advantage - A SWOC Analysis from Theoretical Perspective

This paper proposes a conceptual framework of Knowledge Management, emphasizing basic concepts followed with increasing global competition in the business world in view of Indian context. Management of an organization in modern world is not only complex and sophisticated but it is also vital influencing the economic growth of a country. Perhaps today there is no other latest activity which is as important and dynamic as management- the oldest of arts and newest of profession. Knowledge management is a new branch of management for achieving break through business performance through the synergy of people, process and technology. No doubt, Knowledge is becoming a critically important resource in contemporary business organizations. Knowledge management primarily focuses on knowledge possessed by people. There is a need for knowledge to be created, shared, learned, enhanced, organized and utilized in and out of the organization. Knowledge management is the process through which organization generate value from their intellectual and knowledge based asset. The focus of knowledge management is on doing the right thing instead of dong things right. Thus knowledge management is all about getting the right knowledge, in right place at right time.