Conceived just 15 years ago, knowledge management (KM) is the businessdiscipline about which managers perhaps know the least. Having spent potsof money investing in it, the benefi ts are still marginal. That is because practitioners are still feeling their way.Now that the boom days are temporarily over, it is perhaps timely thatKM can be more fully exploited, for it conceals an application that is indispensable for the foreseeable struggle ahead. Recessions conventionally mean drawing in one’s horns. But what if there was another way through the minefield? The neglected KM application that this tract will address is the late Peter Drucker’s declared crisis of productivity—his belief being that businesses and other types of organization are largely wasteful in their production. This author will uphold the extent of Drucker’s alert (e.g., managers are turning inproductivity growth scores lower than before formal mass business educationwas introduced) and outline how, through two misconceived and underexploitedprocesses of KM, employers can learn to work more effi ciently. Theprocesses are the better management of their organizational memory (OM)and employer-instigated experiential learning, which together can reduce thepandemic of repeated mistakes, reinvented wheels, and other unlearned lessons that litter many parts of modern industry and commerce. All aided bythe perceived champion of the workplace—the fl exible labor market—whichhas introduced to industry and commerce the phenomenon of conveyer-beltjob discontinuity and associated corporate amnesia, the two most corrosivecomponents to good decision making. Addressing the limitations of conventional approaches, this book takes KM to the next level.