Chapter IV

New organizational approaches like Virtual Organizations have the potential to provide the flexibility and to reduce the complexity and risk of management necessary to survive in the actual economic environment. A crucial factor for gaining and sustaining competitive advantages in the current economic environment is knowledge. The management of knowledge has been extensively discussed during the past few years. However, there is still a considerable lack of research that addresses innovative ways of managing the transfer of knowledge, best-practices and competence between organizations. In order to partially overcome these conceptual deficiencies we introduce the concept of an Interorganizational Knowledge Management and discuss its implications on knowledge oriented strategic management in Virtual Organization