KNOWLEDGE MANAGEMENT AND FINANCIAL CRISIS: AN OVERVIEW

T. Naresh Kumar*1

Affiliations
*1 Research Scholar, Department of Business Management, Osmania University, Hyderabad- 500007, Telangana,
India.

ABSTRACT

The development of the capitalist society brought along new challenges. The Capitalist system showed
flaws among which financial crisis is having major impact. However, crises have become a normal and
regular phenomenon, as history proves and, as assumed by some scientists, have a statistical component.
Crises carry the factor of uncertainty and complexity. Crisis situations require for planning, organizing,
directing and monitoring the organizations experiencing difficulties that directly threaten their existence.
In this situations organization must be managed carefully by using the institution's organizational
resources. Knowledge is one of the most valuable resources in the organization. It is one of the most
important sources of competitive advantage. Knowledge management will enable the identification of
critical information about the situation of the crisis and its management to manage with the crisis and to
become competitive. During the crisis organisations that do knowledge management will enable
themselves to manage with the crisis. The organization will have better opportunity to overcome crises.
The objective of this paper is to examine the importance of knowledge management during periods of
crisis in order to tackle it successfully. This study is based on the collection and analysis of data from
various studies about this field.
KEYWORDS
Knowledge Management; Financial Crisis; Organisations; Competitive Advantage.
JEL CLASSIFICATION
M1, M5, M14, M16, Z0.
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