KNOWLEDGE MANAGEMENT IMPLEMENTATION STEPS FOR INDIAN SMALL & MEDIUM SIZED ENTERPRISES

This paper presents review of literature on Knowledge management (KM) in small and medium sized enterprises (SMEs). It focuses on the strategy, implementation, technological and performance measurement &benchmarking issues regarding KM in Indian SMEs. KM is a practical tool for any organization. So KM does not remain just a theory now but it paves the way to formulating an understanding of KM and its role within SMEs. KM has gained importance in the today’s global knowledge economy. It is important not only for big firms, but for small and medium size enterprises (SMEs) also. Indian SMEs sector is also 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, since without proper KM approaches, SMEs are likely to have more to lose than larger enterprises. This paper tries to identify the steps regarding implementation of KM in Indian SMEs for improving competitiveness of SMEs in globalised market.