Knowledge, a strategic asset for business organizations

Abstract

Countries today compete in global markets not simply with their raw natural assets or with the low-cost labor. Quick steps of technological progress have dramatically changed market conditions and competition strategies. Knowledge Management (KM) today is seen as one of the most important issues in economic development, referring to the world of industry, service and information research. Under this general framework, it is important for us to understand the level of recognition and usage of Knowledge Management in business organizations in Albania. So, the purpose of this research is to investigate the level of recognition and implementation of Knowledge Management in business organizations in Albania, as well as to find out if a relationship between critical success factors of KM and performance is present in such organizations. The research was based on two research questions expressed as: Question 1. What is the level of recognition and implementation of KM in business organizations in Albania?; and Question 2. Is there present any relationship between critical success faktors of KM and performance in business organizations in Albania? The research is based on primary and secondary data collection. Some conclusions are also specified at the end of this paper.