knowledge management

What is knowledgement? It must be hard to manage "knowledge".

A widely accepted 'working definition' of knowledge management applied in worldwide organizations is available from the WWW Virtual Library on Knowledge Management (http://www.kmnetwork.com/):
"Knowledge Management caters to the critical issues of organizational adaptation, survival, and competence in face of increasingly discontinuous environmental change.... Essentially, it embodies organizational processes that seek synergistic combination of data and information processing capacity of information technologies, and the creative and innovative capacity of human beings."
In simpler terms, Knowledge Management seeks to make the best use of the knowledge that is available to an organization, creating new knowledge in the process.

What would you say about it?