The importance of knowledge management in company policies

Abstract

In the article the authors consider theoretical aspects of knowledge management development, as it is plays one of the most important roles in a company’s innovation management policy under market competition. They outline different kinds of knowledge as well as techniques used for creating the company’s knowledge portfolio and outline the ways of its application and improvement while competing with other market players. It is emphasized that small and medium-sized companies have been at the forefront of the innovation competition with large companies using the acquired knowledge. Besides, research opinions of the most known scientists in the field are evaluated.