IMPACT OF KNOWLWDGE MANAGEMENT ON OPERATIONAL EFFICIENCY OF CONSTRUCTION COMPANIES IN INDIA

Abstract

The construction business is one of the world's largest business. In India, the total revenue generation in the construction business accounts for 7.74% of GDP and valued at $120 billion. Though small to medium-sized firms (SMEs) dominate the majority of the industry, they operate in small cities as well as larger urban areas. With new technologies emerging everywhere as a result of globalization and ease of connection via media, such as the internet, many businesses have attempted to implement Information and Communication Technology (ICT). The use of Knowledge Management System (KMS) is uncommon but well-known in Indian sectors; the construction sector lags behind. Many large enterprises utilize KMS or comparable systems; however, there is no evidence of KMS adoption by SMEs in the sector. We used statistical analysis tools to analyze the impact of Knowledge Management on operational efficiency in the SMEs from Indian construction sector. We anticipated main challenges in the sector based on the study and findings, including information and communication technology, human resources, organizational level and market level. The study revealed that the companies were having difficulty finding important knowledge to preserve or determining what they would need in the future. However, the companies who have implemented Knowledge Management System in their organization have got benefited from it by having more operational efficiency and getting more business.