Knowledge Managment

“The empires of the future will be empires of the mind.”………..Winston Churchill

In this interconnected global village with the advancement of Information and Communication Technologies, human conditions can be improved through the power of Knowledge. Young people comprises of 20 % of World population. They are the critical stake holders in the global economy and the main change manager in the future. Young people demonstrate outstanding potential, creativity and innovations in advancing sustainable development. At the age of 93, the famous Peter Drucker, in his 33 rd book said, “The next society will be the knowledge society in which knowledge will be the resource and knowledge workers will be the dominant workforce.”
Knowledge management is a management strategy networking the core competencies in the value chain and connects the organization to the business environment. Increased market competition, information being key resource, and to manage transnational operation are the key factors identified to stress the need for knowledge management.
Some of the common obstacles in implementation of Knowledge Management are: lack of trust and acceptance of knowledge, diverse culture, language and habits, lack of recognition to knowledge contributors, and poor network infrastructure.
A successful implementation of knowledge management adds value, creates a culture of innovation, increased efficiency and competitive advantage.