KM can have a greater impact on an organization's success than any other focus I know of. When I ask executives and managers, "what is your most valuable asset?" I usually get a range of answers, but "Knowledge" is not a common answer. Every activity, product, invention, innovation, and idea, are generated from the combined knowledge of the organization. I contend that you could lose everything and if you still have and control the knowledge, you could rebuild. Without knowledge nothing is built, designed, improved, or thought of.
The missed opportunities and progress, because the necessary person did not have access to the necessary knowledge at the moment they needed it, is staggering. No organization can afford to ignore this fundamental core strength.