cess of KM formation involves creation, capture, storage and distribution of knowledge or information, needed for the organization during appropriate times. KMS will aid the leaders in the overall functioning of the organization and will provide them a good back up to all their strategies. Actually, these ‘systems’ by backing up the leaders will optimize their performance and it will directly show in the optimum performance of the employees. So, this paper will analyze this theme of Knowledge Management using the article titled Knowledge Management featured in the magazine, The Economist, and how that it is vital for the employee and organizational success.
The article starts off with the words by renowned management guru, Peter Drucker, who in 1980’s itself hypothesized that that Knowledge Management will be a key process in future for the optimum functioning of the organizations. “The typical business [of the future] will be knowledge-based, an organisation composed largely of specialists who direct and discipline their own performance through feedback from colleagues, customers and headquarters. For this reason it will be what I call an information-based organisation.” (The Economist).So, Knowledge Management will raise the efficiency level of the leaders, aid them in actualizing an optimal organizational environment and thereby will enrich the knowledge and skill of the employees. Focusing on the importance of employees in the process of Knowledge Management, the article opines that the ‘content’ that is developed and stored in the heads and hearts of the employees need to be optimally used for optimizing organizational functioning. The article further states that the effective knowledge of the workers will become valuable assets or properties for the organization. So they need to be further developed and various forms of that knowledge also need to be preserved through technological means. “They had become properties whose most valuable asset