Knowledge Management has been under scrutiny by academics for decades, analysed through countless points of view. There are copious amounts of opinions on what Knowledge Management is, what could or should be, what direction is it headed, and so forth. Yet, with extremely limited exceptions, the academical world seems to ignore how low the success rate is for Knowledge Management initiatives. This paper advances a new theory why the failure rate is so high: differences in perceptions between management and employees are a contributing factor. Stemming from the author’s experience as an employee and a gap that was identified in the literature, this paper puts forth a new approach to knowledge management implementation.