Over the years, management 'Buzz-Words' have come and gone through scientific and management literature, but none so prevalent recently as Knowledge Management. It has proved to be not just another passing fad, but a topic that is becoming fundamental to the management and operation of large scale organisations. Even in times of recession and constant downsizing, knowledge management stays firm. After the events of September 11th, firms worldwide started the arduous task of stripping all possible dispensable jobs to free up essential capital. Surprisingly to some, most knowledge management teams did not become part of the thousands that were made redundant, but instead they emerged as an essential source for adding value, and providing support to management in their time of crisis. My choice of research was purely qualitative, as in my opinion this was the best way to ascertain useful and constructive conclusions. For my primary research I designed a questionnaire which I sent by E-mail to a number of people in key positions in knowledge management. The results of which are detailed in Appendices 4 & 5. In writing this dissertation I have greatly improved my understanding of knowledge management. I have learned about the fundamental elements of the subject, the necessary participation of people, processes, and information technology, and the role and importance it has now earned itself in international business.