Knowledge management is an essential tool for efficiently manage the challenges which
occur due to turnover of skilled, experienced, and knowledgeable workers. Large scale
industries have already taken up these challenges and devised mechanisms to store and
manage the intellectual property of an organization, by creating knowledge repositories
and patenting innovations. Even though SMEs contribute to major portions in Indian
economy, most of them lack innovative approaches towards knowledge management.
Compared to international SMEs, Indian SMEs need to increase the use of knowledge
management in their day-to-day business activities. This paper is a study on the importance
of knowledge sharing, knowledge capturing challenges in the context of SME environment,
and setting the motivation for need of knowledge management in SMEs and highlights some
case studies pertaining to SMEs in general and Indian SMEs in particular.