The utilization and implementation of facts and information in a systematic order is what we call knowledge planning. The knowledge planning constitutes an essential function in any kind of industry and most importantly in business world. Since, there are several things to be considered in an organization besides buying and selling of commodities such as issues related to marketing, human resource, information technology usage in the advancement of business enterprise, and commerce or trade. The efficient and effective use of knowledge in running a business organization is exactly the major focus of the knowledge planning. This has become very crucial and essential for running the business and keeps pace in the ever increasing competition in the business world.
