The basic economic resource in the post-industrial information economy is knowledge, but there is a lack in our knowledge on how to manage knowledge and knowledge processes for competitive advantage. We present a new conceptualization of knowledge management: knowledge management in network contexts. We also present a strategic knowledge management (SKM) framework. SKM is a process involving: 1) strategic vision, 2) knowledge vision and key knowledge identification, 3) design, 4) knowledge protection, 5) implementation, and 6) usage. The conceptualization and the framework are based on extensions of the resource- and knowledge-based view of the firm. The framework can support organizations in strategically managing knowledge and knowledge processes to gain and sustain competitive advantage. The conceptualization and the framework open up new knowledge management research areas and issues.