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This paper aims to categorise the approaches to knowledge management (KM) by companies. In the literature, there is no consensus on a universal or “best” approach to KM. Especially, this paper singles out and discusses the variegated features that characterise the implementation of KM by small- and medium-sized enterprises (SMEs) having different characteristics.

A cluster analysis was used to detect the possible distinct traits of companies that have different approaches to KM. The unit of analysis is represented by small- and medium-sized knowledge intensive business services (KIBS) firms. Data were collected by means of an extensive survey of 223 companies in different European countries and sectors.

Three clusters were identified: Companies showing a relative “unconscious” attention to KM and implementing KM practices without particular awareness; Companies adopting a more conscious approach and using a significant number of KM practices; and companies with a marginal propensity towards KM.

This study considers only KIBS, and future research should include other economic sectors. In addition, a convenience sample was used.

This paper improves awareness of managers of small companies concerning different KM approaches that can be adopted. It highlights that a conscious adoption of a KM strategy involves the introduction of a set of consistent practices.

The topic of KM approaches by small companies is still underdeveloped in the literature. Also, the paper proposes a multi-contextual investigation that makes it possible to highlight the transversality of KM approaches across different countries or sectors.