Abstract: In the contemporary business transformational era characterized by rapid informational and technological changes in a dynamic and highly competitive marketplace, many enterprises, locally and internationally, have realized the importance of involving knowledge and technology managers in business-related decisions. Accordingly, most enterprises are currently committed to huge investments in knowledge and technology resources and capabilities. This study aimed to identify the main knowledge-based and technology-based resources that build knowledge and technology management systems, exploring how firms manage these resources and benefit from knowledge sharing and technology intelligence in building knowledge and technology management systems. As well as, highlighting the influence of knowledge management and technology management on gaining competitive advantage and firm performance. The theoretical framework construction and the discussion questions were designed based on previous literature, research, and studies that have been accessed through the University of Bahrain library portal and other academic publishers. To achieve the research objectives, a qualitative approach was considered as the research methodology, where focus groups and interviews were conducted to discuss the questions and collect the data. The targeted participants in these focus groups and interviews were managers and professionals who are in charge of knowledge and technology management functions in their organizations from different market sectors in the Kingdom of Bahrain. The analyses and interpretations of gathered information indicated that most of the participants agreed on the significance of knowledge and technology management functions and the related factors stated in the study on gaining competitive advantage and improving enterprises’ performance. They highlighted the main knowledge-based and technology-based resources and capabilities that their firms have and are willing to have to reinforce their strategic competitive positions and boost their financial and non-financial performances. In addition, the participants affirmed the importance of knowledge sharing and technology intelligence in the contemporary market environment, where they acknowledged that these factors are the drivers of innovations required to lead the market in the current intensive rivalry environment. The study affirmed that for enterprises to be surviving in a current competitive market and to maintain leading competitive positions, they have to attain sustainable competitive advantage among their C competitors. Certain limitations were experienced throughout the time of conducting the study. The most challenging task was to find the right time to schedule the interviews and focus group sessions with the selected knowledge and technology managers and professionals. The study recommended investing in knowledge and technology resources and capabilities, reinforcing knowledge sharing, relying on technology intelligence, and concentrating on innovation, competitive advantage sustainability, and non-financial performance.