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The chapter deals with knowledge management principles and their implication to knowledge in management represented by contemporary sophisticated management tools and systems. The most important management branches and methods, tools and systems, generally considered as very helpful for professional business operating, are presented. Further research results of management tools knowledge in contemporary enterprises are presented impacting the need of education and knowledge transfer in management responsible positions. The need of management knowledge for the competitiveness of enterprises is accented. Business and competitive intelligence as media for competitiveness are introduced. In the last part of the chapter, a model of the knowledge management system applicable in SMEs is suggested. The purpose of the chapter is to make the reader familiar with some of the most important management tools, methods and systems and suggest principles for an easy and effective knowledge management system in the enterprise.