Knowledge Management emerged as a scientific discipline in the earlier 1990s. Knowledge management is recognized as an important weapon for sustaining competitive advantage and improving performance. For centuries, scientists, philosophers and intelligent laymen have been concerned about creating, acquiring, and communicating knowledge and improving the reutilization of knowledge. However, it is only in the last 15–20 years or so that a distinct field called “knowledge management” (KM) has emerged. The evaluation of knowledge management (KM) performance has become increasingly important since it provides the reference for directing the organizations to enhance their performance and competitiveness.

The main purpose of this paper is to study and analyze the available literature based on the Knowledge Management and to understand how it has been studied and evaluated by different authors who are working in this area. Current literature focuses on Knowledge Management - importance and it’s Concept. The study suggests that there should be wide empirical studies in this area so that, through the Knowledge Management system we can analyze the organizational performance.

This paper provides an understanding of factors that involved in implementing knowledge management concept to enhance organizational performance. Also, it provides an assessment tool that helps organizations to assess their knowledge management capabilities and identify the possible existing gaps in their knowledge management systems and suggest the possible ways to enhance organizational performance.

Organizational learning (OL) is complementary to KM. KM efforts overlap with organizational learning and may be distinguished from that by a greater focus on the management of knowledge as a strategic asset and a focus on encouraging the sharing of knowledge. KM is an enabler of Organizational learning.

Data has to be collected from multiple sources of evidence, in addition to books, journals, websites, and news papers. It explores the main issues in adoption of Knowledge Management practices.

“We know more than we can tell” - Polanyi, 1966