INNOVATIONS IN BUSINESS AND MANAGEMENT

KNOWLEDGE MANAGEMENT PRACTICES

-Vasanthi Reena Williams

Principal Sree Nataraja Residential First Grade College for Women Mysore. ABSTRACT
We have all heard and seen the advertisement for a popular health drink with a punch line; grow taller, sharper and stronger. While speaking about the Innovations in Business and Management perspective on the emerging Global Challenges, this punch line will definitely hold good for all organizations and future professionals being sharper in intellect, growing taller with experience and stronger with knowledge and skill sets. Competition, business excellence, contest, challenge and caliber, are the buzz words in todays corporate world. Well we might just add in future too. Companies are realizing the need to move beyond just producing innovative goods and services to creating an assertive human resource model with intrinsic value and a knowledge base that could help it overcome strategic situations at any point in time. The new buzz word is Cloud Computing. The Indo Asian News Service (Tue 19 th July 2011) states that Cloud computing is emerging as the next big IT service for its pay-as-you-go model, which eliminates capital intensive investment by companies, especially small and medium enterprises, in setting up IT infrastructure. It is predicted that Cloud computing will reshape the Indian IT market by generating new opportunities for professionals and vendors.

All this calls for a diversity initiative programme and implementation of resourceful Knowledge Management practices to help attain the competitive edge globally. Corporate houses worldwide are looking at encompassing the best Professionals or Knowledge workers into their company as several research studies have proved that knowledge worker productivity influences success. This paper tries to lay emphases on the abilities of the knowledge worker, currently better known as the professional, at all levels in the organization hierarchy which could help sustain global competition and challenges in the future. KEY WORDS: Professional, Knowledge Workers, Employee Productivity, Sustainability, Innovation.