This paper will discuss some of the compromises, and the path to those compromises, that must be made while implementing a successful knowledge management program within a for-profit enterprise. Specifically the following compromises are addressed: (1) manage knowledge where it is created, but do that within a global system; (2) no single scope defined for the mega-collection within the repository, but clear scopes defined within practice area collections; (3) inconsistently index content across the entire repository, but consistently within a practice area; (4) follow the money, regardless of the true nature of the asset; (5) the sky is not always blue, even when it is blue; and (6) retain dated content because it is fresh content for other repository constituencies. The paper also contrasts the structure of a successful knowledge management program within a consulting firm versus one within a commodities business, specifically a global chemical manufacturing company. (Author/MES)