Knowledge Management And Organizational Culture

Abstract

Organizational culture is a big factor impacting success of KM. KM should be supported in a knowledge-sharing culture, and trust is its most important component. The importance of KM is no longer restricted to knowledge intensive firms in the high-tech industries but to all sectors of the economy. Knowledge management has become crucial in business operations because the market is becoming too competitive and the rate of innovation is rising. Knowledge management is of importance because early retirements and increasing mobility of the work force lead to loss of knowledge. . KM has also been demonstrated to be tightly related to objectives and business strategies of the organization and thus a very useful tool in management.