The ability of an organisation to harness knowledge assets dynamics lies at the core of organisational value creation capacity. A key challenge both for researchers and for practitioners is to understand how to measure and manage knowledge assets dynamics. In this paper the managerial foundations of knowledge assets dynamics are introduced. For measuring and managing knowledge assets dynamics within organisations three processes are discussed as follows: knowledge assets identification, knowledge assets mapping and knowledge assets flow. The ability of an organisation to gain sustainable competitive advantages is related to the capacity of mastering these processes. Each process is analysed introducing the possible frameworks that can inspire both scholars investigating the microfoundations of organisational knowledge dynamics, and practitioners looking for approaches to leverage knowledge assets to improve business performance.