Knowledge Management in the Services Sector

The global economy is moving towards the services sector. In India, the sector contributes 52% to the GDP. Hence, managing the sector is an important aspect. Nearly 64% of the world population is greatly dependent on the services sector and this has created an urgency to assess the standards adopted in the existing system. The services sector, therefore, needs special attention to gain essential competitive advantage. Knowledge management in the services sector is, thus, the need of the hour. Knowledge Management (KM) refers to the strategies and tasks associated with developing and delivering relevant knowledge, efficiently and quickly, to meet customer needs. Effective support KM optimizes both knowledge creation and delivery inherent in the KM process. Knowledge management in the services sector is perceived as knowledge available to a company, which is a major success factor. Through superior knowledge, companies can accomplish their results faster, cheaper and with higher quality than their competition. Knowledge about customers, markets and other relevant factors of influence allows faster utilization of opportunities and more flexible reaction to threats. It is hoped that researchers, knowledge management officials and corporate decision makers will find this book interesting.