Today the concept of knowledge management is studied as a “competitive advantage of the firm” and human resource as “knowledge capital”. Knowledge Management (KM) has made its entry in both public and private sectors of India. There has been advent of information technology in the last decade and the emergence of knowledge worker and the knowledge economy. There is focus on effectiveness of the organization through internal collaborations and process of knowledge Management and knowledge management systems. Information and communication technologies and human capital congruence is playing an important part in leveraging knowledge for individual\u27s personal growth and organizations competitive advantage which helps in economic development. The paper aims to review the latest knowledge management developments and practices of KMS.Keywords: knowledge management, competitive advantage, organizational competence
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