Critical Issues for Indian Small and Medium Enterprises for Adopting Knowledge Management

The aim of this paper is to understand critical issues regarding Knowledge management (KM) in context of Indian small and medium enterprises (SMEs) sector as it is one of the fastest growing sectors of Indian economy. So it is very important for SMEs to know what their knowledge assets are, and how to manage and make best use of these assets to get maximum return. It has been observed that all over the world, SMEs are considered as a major source for economic growth. The management of knowledge is considered as an important and necessary factor for the competitive growth of an organization. The worldwide economy has been shifted from production-based economy to a knowledge-based economy. The traditional sources of competitive advantages in any organization are no longer seemed to be sufficient in the era of global-business competition. At present business environment organizations have to look at their strategies to remain competitive for their survival and growth. Knowledge drives strategy and strategy drive KM in an organization. Key word: Knowledge management, km strategy, competitive organizations, Small to medium-sized enterprises.