Knowledge Management Practices in IT Companies in India

Knowledge Management (KM) can be defined as doing what is needed to get the most out of Knowledge Resources. KM, though in existence since civilizations, is acquiring the status of discipline in recent times. KM promotes the discovery, capture, sharing and application of the firm's knowledge. We are witnessing a new era with economies being revolutionized with the advent of the knowledge age and highly skilled knowledge-based workers replacing industrial workers as the dominant labour group. In this era of cut throat competition, Knowledge is acknowledged as the most imperative factor that can contribute to the competitive advantage and knowledge is becoming a key factor for the very survival and success of the businesses. However the Concept and Practice of KM is still evolving. KM continues to progress as a profession as demonstrated by the fact that more empirical research is being undertaken. The contribution of India's IT industry to economic progress has been quite significant. The IT Industry is amongst the forerunners in the implementation of the KM Practices. Hence the Study draws importance.