Knowledge management aims to provide easy access and management of the information resource for the institutions and thus to create value by taking the right decisions. Since knowledge management has a decisive impact on the business performance and innovation process at different stages and requires a different knowledge management concept, enterprises should integrate innovation selection activities into knowledge management processes. Otherwise, businesses may face problems in the management processes of the information resources they have. The purpose of this chapter is to first specify the definition and tasks of knowledge management, then to examine the knowledge management processes and to correctly identify of the problems encountered in these processes to find and to implement effective solutions and to realize effective management of the knowledge management within the scope of organizational innovation. This study is very important for businesses with a large scale of the budget, human resources, corporate memory, and thus, a data source.