It is very difficult to find such management techniques that have not been used earlier, under another name, in different conditions, or in other economic frames. The same is true of Knowledge Management. Knowledge Management is not an absolutely new management technique. Its methods are used by a lot of companies but it cannot be said that any company which has a knowledge system, operates unexceptionably. The secret of success is hidden in the system approach, in the way of thinking, in scale of value, in attitudes which have become more and more important in the globalized world and societies. The role of knowledge and intelligence has become more valuable and investigation of knowledge, education, R&D have become determinative. This book will show the theoretical background and practical results of recent research. It will dispel the notion prevalent among SMEs that they have only disadvantages compared to big and multinational companies. The book will highlight the consequences of a badly composed strategy and demonstrate a range of options which can be unlocked by a new way of thinking about their own position, leading to modified behaviours which will secure their fate.