Tacit Knowledge Essay

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Abstract – New knowledge creation together with existing pertinent knowledge has gained currency in the global knowledge economy. It is important not only for big firms, but for small and medium size enterprises (SMEs) also. Indian manufacturing together with service sector is one of the fastest growing sectors of Indian economy and is dominated by wit medium and not only by big industrial houses but by small and medium size enterprises (SMEs) also. This research work aims to study the knowledge of management in different sectors of economy.

NEED FOR THE STUDY
Knowledge management is one of the emerging fields in the research world today. Knowledge Management has gained a lot of attention in the developed world but has attracted a little …show more content…

Tacit Knowledge
According to Wikipedia
“The tacit aspects of knowledge are those that cannot be codified, but can only be transmitted via training or gained through personal experience. Tacit knowledge has been described as “know-how” (as opposed to “know-what” [facts] and “know-why” [science] . It involves learning and skill but not in a way that can be written down. The simplest example of the nature and value of tacit knowledge is that one does not know how to ride a bike or swim due to reading a textbook, but only through personal experimentation, by observing others, and/or being guided by an instructor.”
Tacit knowledge is subconsciously understood and applied, difficult to articulate, developed from direct experience and action, and usually shared through highly interactive conversation, story-telling and shared experience.
Explicit knowledge
According to Wikipedia
“Explicit knowledge is referred to the knowledge which has been articulated, codified and stored in certain mediums. The most common form of explicit knowledge is manuals, documents, procedures and stories. The are also other forms of knowledge can be in the form of audio vision and other multimedia form of representations. A work of art and product design can be seen as yet another form of explicit knowledge where human skills, motives and knowledge are

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