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The emergence of knowledge as a revolution has spawned a new notion of workplace literacy, changing the relationship between employees and organizations. This monograph is my Ph.D research work which focus on the Knowledge Management Practices of steel industry in North Karnataka, India. Varied aspects of KM are discussed here such as K-Creation, K-Sharing, K-Combination, K-Evaluation etc. Application of KM Practices to create competitive advantage that could position the steel units is exemplified here. KM is applied as tool to analyse and quantify the transformation of steel units. The book provides an overall idea on KM Practices with its specific application on steel industry. I am sure this work would give suitable support to future research works on KM Practices in any industry.