nowledge management comprises information, communication, human resources, intellectual capital, brands etc. It involves facing a number of challenges such as its usefulness, its transfer to others and its quantity. It is necessary to develop an organizational capability which may be costly. It does not mean managing all that is known. It does mean formulatin g and implementing strategies, improving business processes and monitoring and evaluating what knowledge exists, and its effective management. It is important yet difficult to scope, define and understand the processes, but to do so is necessary if organizations are going to be able to cope