The aim of this article is to present the crucial role of Knowledge Transfer (KT) among key knowledge processes that take place in contemporary organizations. There can be indicated three processes of that kind: transfer, creation and application. They occur regardless of whether they are managed or not, yet their management is considered vital for organizational effectiveness and competitiveness. The nature of Data-Information-Knowledge continuum is also described as a vital factor for KT differentiation. Moreover the advantages and risks of managing the KT have been discussed.