Mass Communications and Journalism Lincoln University, PA. 19352, USA.
In the present day market scenario of intense competition, organizations need to know what they know and be able to leverage on it's knowledge base to gain competitive advantage. In this knowledge era, organizations can create and sustain competitive advantage through initiation of appropriate knowledge management (KM) processes. The organizations that can leverage technology to exploit the data will realize the benefits by creating a competitive advantage for itself. The competitive advantage could be in the form of identifying trends, unusual patterns, and hidden relationships. The recent emphasis on knowledge management arises out of the need for organizations to manage resources more effectively in a hyper-competitive global economy.
The purpose of this article is to discuss various perspectives of knowledge management and to look at the sequence of events that led to the rise of KM. The arrival of the information society and the move toward the knowledge-based economy highlighted the importance of knowledge management resources including skills and competencies.
