Knowledge society is dominant in this age of surviving and thriving dominance. A person?s or an organization?s ability to acquire and share knowledge is their most important competency which is obtained, over a period of time, through the process of learning and experience. In the present context, organizational learning is focused on knowledge generation, its management, sharing and ultimately in the improvement of the organization?s processes. Though generation of knowledge is through organizational learning, it has to be marketed by externalization and managed to create a repository of tacit knowledge which helps decision making authorities in improving processes - from business to product development. A theoretical perspective on these concepts is presented here in tune with the present scenario. Also this research work is presented for discussion before a team of knowledge workers and leaders for their valuable comments and future directions. Finally, a set of issues for future study in this area is also proposed along with the concluding remarks.