In highly competitive environments with a fast paced technology, knowledge is a significant organizational source of today’s firms. Managing knowledge has an increasing importance for the competitive advantage however, it is an extremely broad concept covering many areas. The implementation techniques may differ as a result of improvements and acquisition of recent technology in business. The aim of this research is to examine the use of knowledge management in an organisation and what activities implemented and how those can be beneficial for the businesses. In order to understand the application concept of knowledge management, the key elements and people that should be involved in the process for the successful implementation are investigated. The study analyses the several knowledge management aspects that have a strategic impact on business. A qualitative enquiry was conducted. This study simply covers the experiences of three companies. Interviewees outlined how managaging knowledge plays a significant role in their company’s success and the techniques currently being used. A comparison of the interviews presented that cross functional teams may be one of the useful techniques in managing knowledge and the process is heavily depending on the top management’s effort.
Knowledge Management, Competitive Advantage, Strategic Value