D/M/14. Managing knowledge assets

The present paper reviews the phenomenon of the notion "knowledge economy", introduced by Peter Drucker. It discusses the issues related to managing knowledge which has become a very important asset and the challenge for present managers to find the optimal solution for utilizing it. Current theoretical framework of knowledge management is highlighted. The paper reviews the ideas of Nonaka & Takeuchi, Polanyi, Sveinby, Drucker and Devenport and other champions of social and mechanistic approaches in order to identify possible alternatives for managing knowledge workers and creating knowledge value chain.