Knowledge sharing is by far the most important component of a knowledge management programme. Organizations strive to gain competitive advantage through efficiencies. When organizations realize that organizational knowledge is by far the most valuable resource, they need to find ways for efficient and effective knowledge sharing. We explore the barriers to knowledge sharing especially in virtual and multicultural teams. In particular, we unfold the human and cultural challenges that can create added competitive value for virtual and networked organizations. We conclude that the ideal environment and working practices will be to change the mindset and behaviour of team members so that instead of perceiving knowledge sharing as an extra task for the team members, isolated from the knowledge of other team members, it (knowledge sharing) becomes the natural way to work for everyone. Finally, we propose the dynamic knowledge acquisition and sharing lifecycle (KASL-II) model for aiding the knowledge sharing process by showing the stages of translating an organization's mission and goals into objectives, and how decisions and actions operate for materialising these objectives. Copyright © 2010 John Wiley & Sons, Ltd.