Knowledge Management is the science of storing, indexing, and retrieving information to add value to an organization. It focuses on creating a "repository" of collective knowledge, intellectual capital, skills, and experience.KM is usually focused around developing processes and systems to help people in an organization answer questions such as:Who in our organization knows something about ____?What have we done in the field of ______?Where can I find information related to the ______ product or service?Who should I turn to for help on _______?Knowledge management focuses on leveraging an organization's collective knowledge and experience to improve performance; the focus in on processes such as strategic planning, problem solving, learning, and decision making. It also protects intellectual assets from decay, adds to firm intelligence and provides increased flexibility.