Abstract—Innovation is not a one day phenomena. There are various drivers of innovation like technological advancement, creativity and knowledge Management. Knowledge management is the most important of conscious strategy of getting the right knowledge, after sharing and putting information into action that helps in improving organizational performances and create innovation. Knowledge management is management of knowledge resources in the organization to the optimum scale thereby creating more appropriate technologies, more accurate and timely information base, and more competent human resources. Knowledge management is reflected in the capability of organization in giving information and doing innovations. R&D;, Publications, IT, Media are only some of the reflections of Knowledge management. It is a frame work of management mindset that includes past experiences and creating new vehicles for exchanging knowledge management. In the era of global competitiveness knowledge management became essential for all the members of top organizations. In current scenario many top level companies focus on managing knowledge capital, in the competitive era of business, it is most important tool for getting success of the companies. Knowledge has become commercial compulsions and the source of learning to train which will help people to know how to market, create selling strategy, agree on pricing and understand the prerequisites necessary into commercially visible product or service. As knowledge management ensures availability of knowledge rather than date or information, the decision quality undergoes a radial change. The result is a highly competitive and creative environment in the organization. Knowledge management demands a knowledge seeking and knowledge sharing community creation and above all nurturing such community within the structural limitations of organization. It requires a change in organization, particularly in its norms, values, beliefs, and structural variables