ROLE OF KNOWLEDGE MANAGEMENT IN HUMAN RESOURCE MANAGEMENT

Abstract

Emergence of number of business firms today have led to a competition in the business world. To sustain their position in the competitive world outside, the business firms keep a constant watch on the market, reduce their cycle times, operate with minimum fixed assets, reduce product development time, improve customer service, empower employees, innovate and deliver high quality goods, capture information, create and share knowledge. Managers are responsible for all the issues in the company. They need to take right decisions at the right time. This requires an effective knowledge management. Knowledge is the theoretical or practical understanding of a subject. Knowledge is a core essence of any organization and the knowledge assets help the organization in paving a simpler path for reaching the organizational goals and objectives. Knowledge has become a crown jewel of every business firm and organization. Managing the knowledge assets available in an organization is the major challenge the business firms are facing today. This paper examines the role of knowledge management in human resource management. It shows how effective KM can change the face of HRM in organizational growth and success.