Tapping the tacit knowledge: The managerial implications

Today's knowledge driven economy requires paying special attention to the layers of unarticulated knowledge that shape the process of decision making. Apart from expertise that is captured and codified in software, hardware, and processes, the tacit knowledge underlies most competitive capabilities. It plays crucial role in developing new products and services. Managers need to be sensitized to tacit knowledge and be able to create an environment conducive to converting individual knowledge into organizational knowledge. This article examines ways in which managers can begin to deal with tacit knowledge and overcome several commonly encountered pitfalls in its utilization.