Introduction Talent development in today’s business world is an important aspect any organization’s continuous improvement. For that matter, there is need to have a sound talent management programme in the organization. This helps improve skills and knowledge of the workforce to promote their output and for personal development. However, it is relatively important to continue reviewing training and development programme of employees in order to continuously respond to the changing needs of the organization and of the business world. Conversely, one of the ways of achieving management effectiveness is through knowledge management. According to Bechtold (1997), knowledge management is believed to be an audit of human resource capacity as an intellectual asset. This is done by highlighting their unique sources, potential bottlenecks and critical functions which may hinder flow of knowledge for their usage. For that matter, human resource plays a pivotal role in knowledge management. This is so since human resource processes like performance management, corporate education and nurturing culture are critical in development of an enterprise that is knowledge based. Consequently, it was acknowledged by Bryson and others (2007) that knowledge management creates an enabling framework that facilitates achievement of competitive environment. Moreover, according to Chaharbaghi (2007), knowledge management is taken to be a set of activities that provide creation and knowledge sharing for success of the organization. On the other hand, talent management is another concept that is applied by organizations in the corporate world in order to ensure their growth and development. Talent management therefore relates to complex collection of human resource processes that are of fundamental benefit for businesses (Holmberg & Cummings, 2009). Nonetheless, the core purpose of talent management is to attract the best talent to the organization. This is so since talent brings forth performance. Therefore, management of talents in the organization is the strategy to effectiveness and efficiency. For that reason, this paper discusses approaches to knowledge management by looking at different viewpoints and how they relate to today’s business world. The paper also goes further to discuss the role of human resource management in knowledge management. Contribution of knowledge management to talent development in today’s business world Importantly, before getting to understand the contribution of knowledge management to talent development in today’s business world, it is appropriate to understand initial development that results to knowledge management. In relation to this, there are several phases that organizations go through in order to get knowledge. This involves processing of data which passes through several stages to obtain knowledge (Choe & Roehl, 2007). For that matter, data that is usually collected in the organization is useless unless it is processed to information. Furthermore, this information needs to be processed in order to obtain knowledge. Moreover, this knowledge in organizations is consumed and processed in order to attain wisdom which is a higher cadre of knowledge. The diagram below illustrates the phases that an organization goes through in s