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The increasing importance of knowledge for companies come along with the increasing concerns about the way organizations cope with the exponential growth of available knowledge and the increasingly more complex products and processes that incorporate knowledge. Given the importance and impact of knowledge activities on the knowledge-based management, various models, approaches or frameworks require a more analytical approach, centred on how knowledge can be effectively managed. This paper analyses several knowledge cycle models and discusses their importance in relation with the knowledge management, even though it seems to be few models that bring something truly new in understanding knowledge and knowledge cycle activities. That is the reason we chose to address some of these, starting with the first most influential one, the Wiig model, and finishing with a less structured but very comprehensive approach, the Heisig model.