Abstract

The 21st Century, however, presupposes an organizational systemic preparedness for gaining and retaining competitiveness in a global and native business scenario. Knowledge organizations bring in challenges significantly different from what has been so far experienced. The early 20th Century predominantly focused on the manufacturing or the production priorities of the firm. Knowledge Management has become a major competitive tool for the present day organizations. Knowledge management is the acquisition and use of resources to create an environment in which information is accessible to individuals and in which individuals acquire, share and use that information to develop their own knowledge. Further, employees are encouraged and enabled to apply their knowledge for the benefit of the organization. “Only a Positive Attitude changes our life, but it will change the world around us”. Know-how in the organization is built around four areas of action: Responsiveness, Innovation, Competency and Efficiency. These four areas, which is called as “RICE model”, cover all of the different ways in which can use knowledge to help the company succeed. Responsiveness concerns how the company takes in vital information from its surroundings; its customers, competitors, suppliers, and others who affect – and are affected by-the company's performance. Innovation concerns how the company uses ideas and information to change what it does and how it does it. Competency concerns to the skills that the people and teams need to deliver products and services. Efficiency concerns with how well processes for product and service delivered.

Full Text
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