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In: Accounting

What is Tacit Knowledge management?

What is Tacit Knowledge management?

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Expert Solution

Knowledge is shared from spoken or written words but there are some knowledge that cannot be transferred through words. There is Knowledge which is gained not from reading but from experience. Such knowledge gained from personal experience is called Tacit knowledge. It is the skill , ideas and knowledge gained through experience that cannot be codified but can be showed by being involved through personal contact, regular interaction and building of trust instead of simply reading about it.
In management, tacit knowledge is the knowledge that is gained by a manager through his years of experience as a result of which he is able to take over various responsibilities as are expected from a manager and also carry them out efficiently. When a person wants to learn such tacit knowledge then instead of codified knowledge, they learn by being personally involved with the manager in his work such as an apprentice. Tacit management knowledge is a chellenge. As a person works in a place, they built they tacit knowledge and when they leave, their tacit knowledge goes with them. This is the reason, managers in high post are required to give a notice of few weeks before leaving, so that their replacement can shadow them and try to learn their tacit knowledge by being personally involved because such tacit knowledge gained from personal contact and experience is difficult to articulate, write down or deliver in a tangible format. The challenge in productively managing tacit knowledge is the key for organizations to succeed by gaining a competitive advantage. Any person can read and follow rules, code of ethics, guidelines but ultimately it is the tacit knowledge of the way things are done in management which is beneficial to the company.

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