Issues and Challenges in Knowledge Management
Knowledge-based economy has taken it over from the money-based economy. Huge exchanges of know-how and advanced technology have resulted in transforming the picture of many developing countries. Economic development has always centred on knowledge being acquired by human beings which later came to be known as ‘human capital’. But only over the last few years has its relative importance been recognised, just as that importance is growing. This has led to change in economic functions, and economists have already started putting it as an important variant in all laws that govern economics. With growth of information technology and people realising the power of knowledge, companies can no longer ignore the importance of the accumulated knowledge they have at their end.