Within this paper, we approach the basic concepts of knowledge management that we consider to have a great potential for organizational development. In the main part of the paper we present a literature analysis throughout which we demonstrate that knowledge dynamics and organizational learning may be developed into strategic capabilities of an organization and if they are efficiently managed they will bring organizational success. Within this section, we argue that organizational learning occurs when an organization synthesizes and institutionalizes the intellectual capital of employees, as the knowledge that they accumulate through learning, culture, knowledge systems, routines and skills. Throughout the second part of the paper we shall try to argue that organizational learning may be applied and stimulated mainly through the following knowledge processes: knowledge transfer and knowledge creation. Supporters of a knowledge-based vision of the organization point out that the two predominant goals of the organization are the generation and application of knowledge. The main goal of the paper is to validate our theory/hypothesis that an organization which has the ability to create knowledge continuously has the advantage of having developed a unique capability which is 'to be dynamic'. We bring relevant literature references that support this idea, and we also present research evidence. According to our research study, within Romanian SME's in the NE area, have been identified various factors which influence the development of knowledge processes within an organization. Among the identified factors we considered interesting to present the relevance of the following ideas: encouragement of knowledge creation, the company's policy for sustaining innovation and methods and sources of knowledge combination. Throughout this research have been identified some practices of business organizations in the North-East counties of Romania with respect to knowledge and learning processes. The investigation results showed a great interest of the organizations towards periodically reviewing the proposed objectives, towards correcting discrepancies between results and objectives and also towards the performing of analysis on competitors and market trends. In conclusion, we want to create a logic and supported link between knowledge creation and organizational learning and to offer some viable options in order to stimulate these processes and obtain organizational performance.