In the previous chapter we focused on the concept of collective action. In the same spirit, this chapter investigates another fundamental component of learning, i.e., memory, and attempts to reformulate this concept at the collective level. Do organizations remember? In which sense it is possible to talk about collective memory? What is the nature of such a memory? The chapter presents a model of organizational memory which can not be reduced to a metaphor, nor to a mere extension or generalization of individual memory.