According to Daniel Kahneman (2011), our thinking process is based on two systems: system 1 operates automatically and quickly, with little awareness of voluntary control, system2 operates slowly and constructs thoughts in a logic order. System 1 processes actually emotional knowledge using our unconscious cognitive capability. Cognitive scientists discovered that we are primarily emotional decision makers, which means that managers and leaders need to rely on their emotional knowledge. The purpose of this paper is to present a qualitative and quantitative research concerning the paradox of emotional knowledge. That means that on one hand most of us ignore emotional knowledge by identifying knowledge with cognitive knowledge, and on the other hand by using emotional knowledge in decision making. The qualitative research has been done by reflecting on knowledge management, strategic management and change management literature concerning emotional knowledge and emotional intelligence, while the quantitative research has been done by conceiving a questionnaire and using it in an academic environment. A total of 1200 questionnaires were distributed to the students of Bucharest University of Economic Studies, and we got a response rate of 37%. Each questionnaire contains 40 questions concerning the awareness, education, transfer, and management of emotional knowledge. The data has been processed with the help of the specialized software SPSS version 19, and AMOS version 18. Statistical analysis includes both exploratory and confirmatory factorial analysis. The results of the statistical analysis reveal the main influence factors affecting our understanding of emotional knowledge, the way we learn through education about emotional knowledge, the way this knowledge is transferred, and the importance of using it by managers and leaders.