The problem to be analyzed in this book is the following one: How could training be instrumental in developing competence into sustainable competitive advantages? The fundamental belief behind the question is that there is an untapped capability in every business of today, which is knowledge, and it represents a vast potential for gaining sustainable competitive advantage. The book is organized in the following manner: First, we will discuss the role of knowledge and competence in creating sustainable competitive advantages. Secondly, discuss the need for a strategic approach to competence development, by asking the question: "What competencies do we need?". We present a methodology for isolating the competence that provide sustainable competitive advantages. Third, we discuss the role of training in meeting the strategic competence priorities of companies, by asking: "How should we train to acquire the competence we need". In the conclusion we will present a model for delivering training in the workplace. In this book we also will discuss the link between systemic thinking, organizational learning and knowledge management. We will develop a conceptual model to illustrate and explain this link, which will be further discussed throughout chapter 2 in the book. The main entities of this model are: Emphasis on internal motivation, relations in and among systems, in addition to the development of vision, generation of ideas and creativity. The philosophical basis for this model is systemic thinking. We will thus explain the meaning of this way of thinking, before we discuss the individual elements of the conceptual model.