In this research the analysis of the interaction between knowledge and practice in the Islamic management has been made on the basis of presenting questions to the holy Quran and the traditions of the infallible (Alayhemossalam (A.S.)). The Quran and the valid sources of traditions have been interrogated to find out the proper answers. The interpretational sources, especially the interpretations which are interpreted based on the Quran to the Quran, have been used. The necessity of associating knowledge with practice in the Islamic management has been elaborated. To give an example, the need of two important subjects: “leading” and “controlling” to knowledge and practice in the Islamic management has been presented, to some extent.