Knowledge is regarded as key resource in today’s business environment. Many researchers argue that it is the key resource to create a competitive advantage. Still, it differs itself from ordinary resources. Knowledge cannot be quantified or specified numerically to recognize the quantity of knowledge a company possesses. Furthermore, companies may lack the ability to achieve an absolute control over the supply of knowledge that will occur when trying to extract it from employees. Knowledge Management is the field which presents an approach to manage the valuable resource of accumulated knowledge. By implementing processes and actions in a company, it will obtain a control over the knowledge in the organization. This dissertation also presents diverse definitions of Knowledge Management. By investigating the components of these definitions, we see that various academic researchers recognize different notions upon Knowledge Management as theory. When reviewing theory, one could question the validity of the word management in Knowledge Management. The theory declares management as an enhancement of practices in organizational context.

The purpose of our dissertation was to investigate if theoretical Knowledge Management is a coexisted factor in companies. By looking at the elements extracted from theory, this notion became apparent. When implementing Knowledge Management, an individual company creates opportunities for people to learn and share their knowledge.