Abstract: Knowledge management is a fairly modern concept. It refers to and enterprise that consciously and comprehensively gathers, organizes shares and analyze its knowledge to achieve its goal. It has gained in importance because companies have discovered that people, their skills and knowledge are essential to gain competitive advantage. It has become a major competitive tool for the present day organization. It is acquisition and use of resources to create an environment in which information is accessable to individuals and in which individuals acquire, share and use that information to develop their own knowledge. It is a conscious effort to get the right knowledge to the right person at the right time so that it can be shared and put into action.