The significance of and the role played by Knowledge Management (KM) is ever increasing in today's business and organizational decision-making environment. This paper attempts to underline the importance of organizing knowledge not for its own sake, but for its efficient use in organizational decision making. The tremendous explosion of knowledge resources, both electronic and conventional, within the last few decades calls for an understanding of how knowledge is organized for management of data and information. This is so for the reason that they can be proficiently employed to create value and utility. This also calls for a search for 'relevance' in KM with regard to its situated nature in different contexts within which knowledge is situated, and that which nevertheless indirectly refers to its ontological scaffolding. We have devised two simple mathematical models of reference with regard to the design of the systems mostly intended for organizing knowledge in knowledge organizations for its most efficient utilization. The model specifies several unique scenarios aided by discovery of arguments related to its ontological framework within which knowledge is situated. Several contexts were drawn to draw inferences from the research study. The results bear relevance to knowledge managers who make important decisions for realization of organizational goals and objectives. [ABSTRACT FROM AUTHOR]