The differing levels of knowledge and the abilities in fostering and harnessing it are the main causes for the variation in performance levels of any firm. The HRM practices in an organization are linked with the strategic performance, which should be consistently observed by the HR manager for achieving the organizational goals. To say that the present society is knowledge-based is to state the obvious. The organizations operating in today's society are more knowledge intensive than their counterparts in the past. Be it development of new fuel efficient car engine or harnessing technology to improve sophistication of a complicated cardiac surgery, it is knowledge that is at the heart of human performance. Knowledge is not intangible as it is commonly perceived to be.

On the contrary, it is the most concrete thing that provides firms with the most enviable competitive advantage in their battle for market supremacy. Today, terms like "knowledge worker" and "intellectual capital" have invaded the business lexicon. Knowledge is a fluid of framed experience, values, contextual information and expert insight that provides a framework for evaluating and incorporating new experiences and information. The primary objective of a business enterprise is creation and deployment of knowledge that contributes to its productivity. The differences in performance of firms result from their different stock of knowledge and their varying abilities in fostering and harnessing it. In the present business scenario, knowledge and competence are the key drivers to secure competitive advantage. From an organizational perspective, codification and documentation of the knowledge pool is the very essence of Knowledge Management (KM) process.

Organizational Knowledge - The HR framework,knowledge,fostering and harnessing, variation in performance, levels of any firm, The HRM practices, organization , strategic performance, , HR manager, , organizational goals, society is knowledge,today's society, knowledge intensive than their counterparts.