Nowadays data is considered as an important resource for business as compared to materialistic assetsand intellectual capital. Organizations aspiring for sustainable growth deliberately require managingthe information for innovations. One way to mediate the increasing load of information is applicationof knowledge management practices, which have their baseline in conventional approaches such asknowledge creation, innovation, sharing and transfer of knowledge, reusability of knowledge and applicability of knowledge. It does not end here but the conventional knowledge digs deep onto knowledgeacquisition. Acquisition of knowledge is a complex area arising from competing disparate theories andcalling for complications. One such complication is difficulty in predicting future needs of knowledgeand skills as well. Another concern of knowledge imperatives is application of knowledge.