Business are increasingly finding themselves in a world characterized by globalization, turbulence and complexity, paralleled with an exponential advancement in information technology (IT). As this technology is limited to the transfer of explicit knowledge, this may relegate tacit knowledge to the background, in spite of the strategic importance of tacit knowledge, hence, leading to the mismanagement of knowledge. The problem stated in this book is as follows: How does investment in, and use of IT influence tacit knowledge, and what impact does this have on firms ability to create and maintain sustainable competitive advantages? The purpose of the book is to improve our understanding of the role of tacit knowledge and to reflect on and give guidance for how to handle the relationship between tacit knowledge and IT. The book develop a model for solving the puzzle of the mismanagement of knowledge. In this book we also will develop a typology for tacit knowledge to facilitate our understanding of the interaction between tacit knowledge and innovation The aim of this book is also to examine the nature of intellectual capital and its role in the value creation processes. In this book, we regard the construct intellectual capital as a holistic management philosophy. We will develop a typology for this holistic management philosophy, in addition to conceptual models to describe and explain contexts pertaining to the various typologies.