Knowledge Loss and Retention Practices in Indian Biotechnology Industry

Abstract

Knowledge Management (KM) has become a critical discipline in today's dynamic and competitive business landscape. With the advent of information technology and the recognition of intellectual capital as a valuable organizational asset, the need to effectively capture, organize, share, and utilize knowledge has grown exponentially. This abstract provides an overview of the background and context of Knowledge Management. In response to the information overload and the realization that data alone does not guarantee informed decision-making, organizations began to focus on managing intellectual capital. The evolution of the business environment demanded agility and innovation, making the efficient management of knowledge a strategic imperative. Additionally, the departure of experienced employees and knowledge loss highlighted the significance of developing knowledge retention and transfer strategies. Technological advancements have transformed the way knowledge is accessed and disseminated, making Knowledge Management more feasible and effective. Emphasizing the concept of the learning organization, KM encourages a culture of continuous learning, collaboration, and knowledge creation among employees. Knowledge Management is a cross-disciplinary field, drawing from various domains such as information science, psychology, sociology, and computer science. The recognition of different types of knowledge, including explicit and tacit knowledge, further complicates the management process but enhances the potential benefits for organizations.

Keywords: Knowledge, Management, Biotechnology, Loss, Retention, India