ABSTRACT
Introduction Knowledge has always been important. Through the history of mankind victory has gone to those at the cutting edge of knowledge. Those parts of our society that have learnt and developed their thought processes have constantly held the advantage over time. Knowledge is now more important than ever. As information becomes more important, the role of knowledge takes on a more important role. Convergence in broad strategic goals and production capability means that new ways of gaining strategic advantage must be found. Knowledge and its management has become the new arena for competitive advantage and differentiation. Businesses of all types can no longer escape the importance of knowledge in their development. Commentators commonly refer to a new era of business activity based in a knowledge economy. It is clear that knowledge has a role to play in business development.
