Paper Title :Role of Knowledge Management and Innovation in Micro, Small and Medium Enterprises for Competitive Advantage

Author :E. Manohar

Article Citation :E. Manohar , (2017 ) " Role of Knowledge Management and Innovation in Micro, Small and Medium Enterprises for Competitive Advantage " , International Journal of Management and Applied Science (IJMAS) , pp. 14-17, Volume-3,Issue-7

Abstract : Micro, Small and Medium Enterprises are essential components of India’s industrialized sector. It contributes significantly to India’s Gross Domestic Product (GDP) and export earnings besides meeting the social objectives including that of providing employment opportunity to millions of people across the country. The MSMEs have played a significant role in the socio economic development of the country during the last five decades and it has significantly contributed to the overall growth in terms of Gross Domestic Product (GDP) employment generation and exports. The challenge is that product life cycle has shortened to a dramatic extent, and as a result, sustainability has become very difficult in almost every business across any industry. In this regard, the organizations strive towards structural and process innovations by creation, acquisition, and deployment of both tacit and explicit knowledge in order to remain competitive and sustainable, companies put many efforts in innovating their products and services. In this regard, Knowledge Management and Innovation in MSMEs (KM & I) plays a vital role in capturing the tacit knowledge and innovative strategies for strengthening the MSMEs which enables them to be in the competitive field. The present paper aims at implementation of Knowledge Management and Innovation strategies for strengthening of Micro, Small and Medium Enterprises in the competitive trend. Keywords - Knowledge Management, Innovation Model, Micro, Small and Medium Enterprises and Competitive Advantage

Type : Research paper

Published : Volume-3,Issue-7

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