I believe that the knowledge management industry and the associated learning models on which it is based was fudamentally flawed. It tended to get overly structured, thanks to the IT consultants who hijacked the agenda. Organizations often undermine the importance of tacit knowledge, the process of absorbing knowledge not through transfer, but through a process of osmosis and the significance of accidental or serendipitious learning.
The web 2.0 model of blogging, and tagging and being able to share is a more powerful mechanism for learning. Unfortunately, while many individuals have taken to this form, corporations have yet to embrace this model.
I gave a talk on this at a few places and did get positive feedback. However the action element is still missing.