How Does Knowledge Management Improve the Service Industries: The Impact of Knowledge Management on Business Organizations

Abstract

The idea of Knowledge Management (KM) is a basic to business world in current situation. This reality is demonstrated when we experience the present business, management, technology and organization literature. This study gives a review and elucidation of knowledge management literatures in multi-national corporations. Knowledge management is an efficient process for creating, acquiring, synthesizing, learning, sharing and utilizing knowledge and experience to accomplish organizational objectives. An appropriate stream of information is fundamental for the development of each organization. Knowledge management is a need that can have all the effect amongst survival and an early destruction. Today larger part of business organizations have knowledge management program in some form. Indian business organizations are likewise feeling need of new business ideal models. Numerous organizations in India have begun knowledge management activities. This study studies the role of knowledge management in Indian business organization. The study researches the extent of successful implementation of a knowledge management procedure in the working environment of business organizations and gives future directions.