Knowledge Management (KM) is today a relatively well-established managerial discipline. A self-administered questionnaire is conducted to investigate hypotheses focused on Knowledge Management and managerial perceptions. The main research question becomes “what is the nature of this attitude and whether the perception of KM can be generalised or is specific to certain groups”. Data are processed using descriptive statistics, Pearson chi-square, Likelihood ratio, Cramer’s V, and additional supportive tests. It is apparent from the data analysis that a negative perception of KM prevails among Czech managers. Moreover, the study proves that there is no significant relationship between the replies of various respondent subgroups segregated by age and none / existence of KM in an organisation. A shift in the responsibilities and the democratisation of knowledge are contrary to the ideologies and practice of doing business today in the Czech Republic.