This study seeks to explore the concept of knowledge management, its importance, and its objectives, in addition to identifying its core processes such as knowledge discovery, capture, sharing, and application within organizations. The study also sought to shed light on the functions of knowledge management in the context of rapid technological development, given its direct impact on enhancing organizations’ ability to manage knowledge efficiently and effectively. Furthermore, the study examined the organizational effects resulting from the application of knowledge management in various work environments. The study adopted the descriptive-analytical approach in gathering and analyzing information by reviewing previous literature and theoretical studies related to the topic of knowledge management, with the aim of reaching accurate findings that could contribute to enhancing both scientific and practical understanding of this vital field. The study concluded that knowledge management has become a pressing necessity for contemporary organizations due to its ability to improve performance, foster innovation, and enhance competitiveness. It also showed that technological advancement has clearly contributed to the development of knowledge management functions through advanced systems and technologies that support the effective discovery, storage, and sharing of knowledge. Additionally, the study confirmed that knowledge management has multiple organizational impacts on individuals, processes, products, and the overall performance of the organization.