Knowledge Management is a well-established stream of research in many disciplines. Nonetheless, many frameworks guiding the development of information systems follow a view of knowledge that focuses on explicit representations of knowledge; leaving out important contextual components. Based on the differentiation between the ostensive and performative aspects of organizational routines, we propose a conceptual framework that breaks knowledge into 'knowledge potentials' as performative dimension expressing knowledge as organizational capability and 'knowing' as ostensive dimension expressing knowledge as bound to its enactment. The main contribution of this research is to provide a synthesized framework based research from different disciplines that can guide the development of knowledge management systems. Based on the proposed framework, we discuss further research directions for information systems supported knowledge management.