In this paper, the authors address all the fundamental management dimensions in the process of innovation. It recognizes that beside technology and finances knowledge is the core component of innovation. Nurturing and managing the flow of knowledge may be the most distinctive competence of the decade. Knowledge and creativity are now the major driving forces behind pioneering companies that are achieving competitive edge crucial to competing in today's economy. Innovative knowledge management provides a valuable resource for promoting current academic discourse on innovation in knowledge-intensive organizations and contexts.