Abstract
The dynamics of changes in the environment of the organizations stimulates them to design and implement internal changes leading to a balance between organizations and their environment. These changes refer to the formulation of the main objectives of the organization, structural and process solutions, management concepts, relations with customers, another look at the resources, the use of knowledge as a source of innovations etc.
One of the conditions for the functioning and development of modern organizations is the systemic use of knowledge to solve emerging problems, including creation innovations. The fulfilling of this condition requires the including of knowledge to the management.
The paper emphasizes the discussion of four interrelated issues:
1) systems of value creation in organizations,
2) essence of knowledge and its classification,
3) knowledge as a source of innovations,
4) knowledge management.
The aims of this publication is showing that knowledge plays a fundamental role in processes of generating and implementing innovations, that is why the process of its creation must be rationally managed according to the proposed models.