Over the past 25 years the term knowledge management has evolved to represent the changing nature of the workplace in a true paradigm shift. In coining the phrase "knowledge society" Peter Drucker convincingly argued that land, labor, and capital as the classical factors of production had been largely replaced by knowledge. "Knowledge has become the resource, rather than a resource, and is what makes our society post-capitalist." (Drucker, 1993)

Explain the quote and make sure to define the nature of knowledge management and the types and kinds of leadership challenges that knowledge management engenders.