Managing information or managing knowledge?

Knowledge, the most important resource of the organization, is prone to be misused due to popular misconceptions about its characteristics. Often it is confused with information and tools created for information management (IT) are erroneously applied to knowledge management (KM). For this reason information technology, which inspired knowledge management, falls short of its expectations. Many companies soon discover that leveraging knowledge requires different approach and is more dependent on community building than information technology. They realize that they need to share knowledge that is neither obvious nor easy to document, yet is crucial for competitive advantage. Some practical implications follow from the distinction between information and knowledge.