Role of Knowledge Management in Critical Success Factors of Global Fortune 500 Companies

The globalization of business, shift from production-based to a knowledge-based economy, where knowledge resources such as know-how and skill are critical success factors for global fortune 500. A key concept of the knowledge economy is knowledge and learning which often referred to as capital property. The principal fostering of creativity and innovation is knowledge management. All innovative companies have the ability to access and use the knowledge management to facilitate decision-making capabilities, builds learning organizations by making learning routine, stimulates cultural change for innovation and capture best practice solution and strategic advice, as well as valuing the skills and expertise of their employees. The primary purpose of this paper is to share insight from global fortune 500 companies experience and key reasons why actively managing knowledge is important to the global fortune 500 companies. This paper also will provide a greater understanding to the researchers and practitioners of a successful knowledge management program.

Keywords:

fortune 500 , knowledge management , critical success factors , innovation