Knowledge management – why is it so important?

Nowadays, many companies have realized that a very important element in the management of a company is the ability to use an appropriate management of knowledge. Knowledge management uses knowledge, management, innovation and intellectual capital to create new value for the company. It is not a temporary but systematic and orderly activity in the cross-section of entire enterprise. The creativity of employees in improving processes, skillful management of knowledge can significantly contribute to the achievement of organizational objectives and improve the competitive position of the organization. The purpose of this article is to present the main issues related to the management of knowledge. The article consists of two parts: theoretical and empirical. The first theoretical part presents general issues related to knowledge, knowledge management, such as: definitions, objectives, types, process models and strategies. The second part presents an empirical example of an international corporation Google, which is able to effectively manage knowledge