Abstract:

The objective of the current article is to emphasize and interpret the major myths that have developed over the recent years regarding knowledge management, as well as the fundamental challenges that the executives have to overcome in order to succeed in leading a successful organization. The evaluation is carried out by analysing and debating the main differences between theory and practice through the means of both previous research works and particular experiences. The findings have a peculiar importance in building up a fair overview concerning the authentic meaning of knowledge management and the challenges connected to the process of applying its main principles within a firm. The conclusions prove that knowledge management still represents a huge challenge for the contemporary managers who are looking for attaining a competitive advantage by creating, developing and exploiting their organizational knowledge.