Knowledge management

In the competitive environment it has become necessary for the organization to use various practices and techniques to enable itself to survive and knowledge management helps the organization to face the competition. Knowledge management (KM) is the process of capturing, developing, sharing, and effectively using organizational knowledge. It refers to a multi-disciplined approach to achieving organizational objectives by making the best use of knowledge. In this paper the main focus is on understanding the characteristics of knowledge management in the old information era and the current state of the practice of knowledge management and to know why knowledge management is necessary. It is also discussed that what companies can do in knowledge management.