Every day management in an organisation deals with huge amount of data and information. Data and information is not useful until we learn how to dig the value out of it, and to do that we need knowledge, which provides the reason to learn knowledge management. With increasing amount of data overload knowledge management has become one of the most talked about topics in industry world. Concept of knowledge management (KM) arose approximately two decades ago in 1990. It may be easier to state that KM means holistically organizing information and knowledge of an organization (Davenport & Probst, 2002). But surprisingly even though it sounds textbook styled way of designation, entire depiction is still larger.
In primary days when knowledge management was still developing, Davenport and Pruzak (1998) simply defined KM as the practice which involves effective use of knowledge by proper apprehension and distribution. However there is another frequently quoted second definition offered by the Gartner Group (Duhon, 1998), which defined KM as a discipline which encourages a cohesive method of proper identification, apprehension, evaluation and segmentation of an enterprise’s asset in the form of information. Information may be in the form of documents, databanks, strategies, methodology and expertise of employees.