ADM 2337 Chapter Notes - Chapter 15: Tacit Knowledge, Knowledge Management, Explicit Knowledge
Document Summary
Knowledge management systems- support the creation, capture, storage, and dissemination of firm expertise and knowledge, have become one of the fastest-growing areas of corporate and government software investment. Today we live in a knowledge society in which social, economic, and political changes are taking place as countries move from the industrial to what have been called the post-industrial age. To transform information into knowledge- a firm must expend additional resources to discover, patterns, rules, and context where the knowledge works. Wisdom is thought to be the collective and individual experience of applying knowledge to the solution of problems. Wisdom involves where, when, and how to apply knowledge. Tacit knowledge- undocumented knowledge residing in minds of employees. Arguably, organizations that can sense and respond to their environment rapidly will survive longer than organizations that have poor leaning mechanisms. Knowledge management- the set of business processes developed in an organization to create, store, transfer, and apply knowledge.
