Tacit knowledge refers to knowledge that is not so easily captured
Knowledge management is the general practice within an organization of collecting, preserving, organizing, and disseminating intellectual assets deemed critical for the success of the organization.
The main tenet of knowledge management is that internal information in any particular organization has business value. From a knowledge management perspective, knowledge can be separated into explicit and tacit forms. Explicit knowledge refers to knowledge that is already codified, such as that appearing in reports or patents, for example.
Tacit knowledge refers to knowledge that is not so easily captured and preserved the processes, methods, relationships, and structures that employees learn through time. One of the significant challenges for any knowledge management effort is identifying and capturing this tacit information.
There are different approaches to effective knowledge management. Some are technology-based, some seek to create a knowledge- sharing culture within the organization, and some are dependent on the development of organizational processes to directly effect transfer of knowledge between workers.
Tools used to support knowledge management efforts are typically comprised of applications suites designed to collect and organize knowledge assets and then permit accurate searching and retrieval.
These tools are often intranet-based and frequently support collaborative group work.
Changes in the marketplace and workplace are driving the adoption of knowledge management practices in a growing number of organizations.
Increasing competition based on information and intellectual assets, greater worker mobility, impending baby-boomer retirements and staff reductions have all forced organizations to attempt to preserve key knowledge assets to maintain competitiveness.