Knowledge Management (KM) is the process through which organizations generate value from their intellectual and knowledge-based assets. Frequently generating value from such assets means sharing them among employees, divisions and even with other companies in order to develop best practices. This article discusses three basic aspects of implementing knowledge management: (1) the process of capturing and sharing knowledge; (2) putting in place a knowledge management infrastructure and an organisation culture that encourages pooling of knowledge; and (3) building on existing knowledge. The article then describes the benefits of an effective KM program and emphasizes that in order to sustain the effectiveness of a knowledge management framework, a culture of sharing information and knowledge needs to be developed within the organization. To make such a culture viable it is vital to make people realize the importance of sharing information and helping each other. Integrating KM initiatives with the organizational processes and rewarding knowledge sharing and knowledge creation are two key steps in this direction. Configuration and development of special interest groups is also a reliable approach to initiate such cultural change. [A combined list of notes and references are included.]