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Opportunities and Challenges of Knowledge Retention in SMEs
Abstract
This chapter presented discussions on the opportunities and challenges of knowledge retention in SMEs. SMEs are defined as formal enterprises with less than 50-250 staff and a turnover of less or equal to10-50 million Euros or a balance sheet total of less or equal to10-43 million Euros based on the European Commission criteria among other defined characteristics while also being identified as knowledge organizations. The conceptualization of knowledge retention in SMEs provided evidence of SMEs as knowledge creators and knowledge users in their quest to effectively retain organizational knowledge as part of their knowledge management strategies to remain relevant in the society.
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