JMGT_V1_N2_A3 Mohamed Ibrahim Journal on Management 2230 – 715X 1 2 27 34 Tacit Knowledge, intellectual asset, Best practice, Collaboration, explicit knowledge, Knowledge map, organizational memory This paper reviews the role of knowledge management (KM) in business and proposes a closer examination of its values and return on investment. The paper uses case studies from the health industry to highlight the importance of KM in storing and sharing of knowledge to deliver a better outcome. While this may indicate a positive outlook of KM, the paper also discusses issues related to theoretical foundation of the KM field and how this relates to the Information Systems, Information technology and other business process technologies. The paper suggests that although the challenges of implementing KM are considerable, so are the rewards. The growth of KM project signals a growing conviction that managing institutional knowledge is crucial to business success and possibly business survival. September - November 2006 Copyright © 2006 i-manager publications. All rights reserved. i-manager Publications http://www.imanagerpublications.com/Article.aspx?ArticleId=394