Knowledge has become a more powerful production factor than any other. Organizations are aware that knowledge is the key dimension which can bring them their competitive advantage. Knowledge management is a systematic approach to planning, actuating, and controlling the knowledge manipulation process in order to achieve the organization's goals. This paper provides a model for knowledge management – the knowledge management wheel that is based on the management process and is close to senior management thinking. The practical application of the model was demonstrated by means of a case study. The implementation of knowledge management is a long-term project and with knowledge as an intangible asset, its usefulness cannot usually be seen in the short run. As in all case studies, the limitation of this research is its context dependency. We believe that the results provide us with the confidence to begin with the next phase of the study, namely the validation and the testing.
