In the latter part of the nineties, Davenport (1998) emphasised that although many companies were beginning to feel that knowledge was their most valued asset, only a few had actively begun to manage knowledge efficiently and effectively, especially on a daily basis. One can contend that this statement by Davenport is still applicable today. Companies are still struggling to get to grips with knowledge management. Fortunately, since Davenport made this statement, a lot of work has been done on knowledge management. This article builds on the work of authors such as Zack, Davenport, Earl, Snyman and Kruger and others, and argues that not only should knowledge be governed by strategy before detailed knowledge management plans can be made, but more importantly that sound knowledge management practice should be based on predetermined principles and strategies. Arguing from this perspective, this article not only emphasises the strategic link between knowledge management and strategy, but also focuses on determining whether or not there are any principles and strategies available that operate from a knowledge management perspective, to guide strategists in their efforts to manage knowledge effectively.