Knowledge Management for Business

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The business landscape is changing rapidly and competitive environment is no longer predictable. The survival and success of the business depend entirely on the organization’s ability to adjust to the dynamics of the business environment. The changes in the information technology have generated gaps in the access and control of information and knowledge and even if these gaps are bridged the fundamental challenges that are faced by the modern business organizations remain the same.The knowledge management is the solution for realigning the firm’s technical capabilities to create the knowledge that drives the firm to move forward by applying knowledge for value added and competitive advantage and by converting challenges into opportunities. The knowledge is rapidly displacing capital, monitory powers, natural resources and labor as the essential economic resources and knowledge integration has become the engine of economic prosperity in the modern competitive business world, a study on the knowledge management is vital. Knowledge Management is the ultimate competitive advantage for today’s organizations. Knowledge Management involves people, processes and technology interconnected.