This paper represents the process model of the Knowledge Management based on the study results of a global benchmarking study. In organization, we can find various ??ba,?? such as cyber space for Community of Practice to gather and open physical space for collaboration beyond divisions. ??Ba?? develops circulation of knowledge and which is the key to the improvement of competitive advantage of organization. When benchmarking was conducted to KM leading companies, we have found that the method of utilizing ??ba?? was very logically adapted to the business strategy, which supported corporate culture for knowledge sharing. However, it is difficult for a corporation to implement appropriate ??ba?? that foster knowledge sharing and further gain competitive advantage of the corporation effectively. We analyzed the interrelation among the approaches for sharing vision, supporting vital individual, designing dynamic ??ba,?? connecting people, and promoting change to model these important factors for implementing knowledge strategies. This model shows the necessity to choose a different approach to design ??ba,?? including the design of IT, based on the knowledge strategy.