Knowledge ! what a powerful concept to be a success, be it at individual level or institutional/organizational level. At individual level, there are 5 bases of power according to a popular classification -coercive (punishment), reward, legitimite, referent, and expert. One drives the expert power from his/her expertise based on the tacit knowledge. Unlike other four, this is something that is not negotiable based on a person's position/status in society or organization. Around the world ( and in the US), foreign immigrants are provided working permit based solely upon this that demonstrates the importance of knowledge that shapes key government policies. At organizational level, as businesses move into the hypercompetitive environment, the pressure to innovate (else evaporate), stay competitive (and profitable), and be a global leader requires careful exploration and exploitation of knowledge base that resides in individuals, team, and at organizational level. Agility, adaptability (survival of the fittest - Darwinism), and change is a continuous emphasis of large, dominating corporate houses. As the saying goes, we live in knowledge ( or information ) economy. Where K-mart failed and Wal-Mart strives is a classical example of how timely, complete, and reliable information is operationalized in the value chain for superior business performance. The plethora of sophisticated databases, ERP solutions, CRMs, Data mining, business intelligence etc are all rooted to the knowledge based view of firm. Which unlike the resource based view of firm, relies on harnessing knowledge to gain distinct competency in the industry. Unlike other physical and organizational resources, usage of knowledge resources do not lead to its depletion or depreciation, on the contrary it leads to further refinement and growth. Knowledge has the 4 key characteristics identified by the resource based view of firm in strategic literatures to identify a particular organizational resource as core competency. Knowledge is 1. Valuable, 2. Unique, 3. Inimitable, and 4. Complex in its organization. According to the Bhagvad Gita: Smart is one who combines Effort with Knowledge. Therefore we see a continuous effort on empasizing work integration with knowledge integration in most of the world class businesses, societies etc. hope, this helps.