Knowledge Management in Economic Downturn: Indian Scenario

Abstract

Knowledge management is becoming an indispensable aspect of most of the modern business organizations. It is considered as a corporate cost savings process to augment performance capabilities with broader availability and utilization of major corporate knowledge assets. Knowledge management is the basis of all planning, all development and all progress ofan organization. It is one of the significant ingredients, which makes the accessibility of acceptance with understanding of learning. With recession encompassing the globe, theorganizations are passionately engaged in cost cutting practices to maintain profitability and competitiveness. When enterprises realize that developing and sharing knowledge is pivotal tosustain a cutting edge, the management can decide to place knowledge management high on their agenda- especially during economic turmoil. The Indian organizations have exceedingly done well during the economic turmoil. The present paper is an attempt to study knowledge management during recession in Indian scenario. Major challenges faced by the organizations are highlighted along with strategies to overcome such challenges are presented by the authors.Keywords: knowledge, knowledge management, recession, innovation, Indian scenario.