Jeanne Meister, in the June 2008 issue of Chief Learning Officer magazine, and a leading industry leader, discusses why and how implementing communities of practice seems to have replaced the buzz about knowledge management.  In some very good respects I agree with Jeanne, as communities are still the gaining and sharing of knowledge across organizational human capital. Communities are seemingly more free-form and less stringent than traditional knowledge management.  Like launching any new initiative this involves viable content and usability for the benefit of the user, therefore, knowledge management is still key.  Knowledge is the intellectual asset of any organization, and communities are one way of capturing and sharing that critical business information. 

Knowledge management with Web 2.0 functionality incorporates communities, but also key content, document and knowledge management components for capturing all components of enterprise intellectual capital.  Therefore, I believe KM is bigger and more critical than just enabling of communties and should be viewed as a key component for corporate capital acquisition.