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Abstract
In the current era of knowledge-driven society, knowledge becomes the most critical success factor in the current business environment. It needs to be handled and utilized effectively and efficiently to compete in the global market by creating a sustainable competitive advantage for the organisation. A technology-driven organisation needs to leverage knowledge management process to be effective and competitive, where professional can play an important role while managing the knowledge to handle the challenges comfortably. But the ability of handling cannot be inculcated within a day like technology, it is culture to be cultivated since a long time through experts and their experience they gained practices.
The Oil and Gas industry has seen massive changes in the recent years influencing all its sectors, including searching, production, drilling and refining which in turn has great effects on their market and marketing strategies, production strategies and research and development strategies. These changes can only be achieved through effective knowledge management, covering both knowledge production or generation and knowledge sharing or transformation and distribution. That is not the issue today, where making the most of an oil field is a knowledge-intensive affair involving expertise in engineering, earth science and facilities maintenance.
Keywords: Knowledge management, Knowledge and information management, Oil and gas industry, Energy sector.
Introduction
The primary objectives of Knowledge Management initiative in any organisation are to enhance the performance of the people involved along with the organisation. It is not mere knowledge sharing but also valuable by-product of the business process, by explicitly designing and implementing tools, processes, systematic approaches, structures, principles to improve the decision making with indirect improvements in identifications, capture validations and transformation of knowledge relevant for decision making.
Today we have significant number of the tools to do successful business, methodology, methods to handle knowledge, to analyse its flow in organisation, way to improve the flow, opportunities to utilize up and way to observe.
Today, with the help of Knowledge Management, ample number of tools, crisp methodologies, methods to provide ability to blend and various approaches to knowledge management are available to organization to enjoy competitive advantage. This progress gives strength to organization to handle and tackle real business problem easily. Thus, Knowledge Management becomes a solution provider to business problem with...