Knowledge Management: An overview & its impact on software industry

Knowledge management involves the identification and analysis of available and required knowledge, and the subsequent planning and control of actions to develop knowledge assets so as to fulfill organizational objectives. Knowledge management helps management in taking informed and better decision. It also helps in creating intellectual capital for the organization. The importance of knowledge management is software industry is incredible. Knowledge management helps in improving execution and coordination across the organization, which is a challenge for software industry. Knowledge management also helps in increasing speed to delivery and precision of execution for software industry. A case of Patni computers system highlights the importance of knowledge management in software industry.