Knowledge Management in Small and Medium-Sized Enterprises

Abstract

Against the background of knowledge as an ever more important strategic resource in the current environment, as well as demographic developments which will soon lead to a shortage of expert knowledge, the practice of knowledge management (KM) calls for an even stronger consideration. Knowledge is the critical asset that will help organizations master present and future organizational challenges. This applies to small and medium-sized enterprises (SMEs) in particular. Therefore, the aim of this chapter is to discuss KM in SMEs by first defining this category of firms in quantitative and qualitative terms. Once this understanding is established, we turn to the current body of knowledge regarding KM in SMEs and discuss both the benefits and challenges ahead. We then address how to apply knowledge management in SMEs. The chapter concludes with a number of promising research avenues intended to develop further the study of KM in SMEs.