Chapter 10, Problem 1RQ

Explanation of Solution

Knowledge management:

• Knowledge management is the set of practices that are alarmed with:
  • Increasing awareness
  • Developing learning
  • Speeding teamwork
  • Innovation and
  • Exchange insights
• The aim of knowledge management is to capture and document the valuable tacit knowledge of others and turn that into an explicit knowledge so that it can be shared with others.

Types of knowledge management:

There are two types of knowledge management. They are:

• Explicit knowledge:
  • Explicit knowledge is an expressive knowledge that can be articulated, accessed, documented, and codified.
  • It is expressed in terms of words, symbols, and numbers.
  • This knowledge is easily conveyed to others. It is stored in media.
• Tacit knowledge:
  • It cannot be documented like explicit knowledge rather it is embedded according to the experiences of the individuals.
  • It is unwritten and has hidden knowledge.
  • It is hard to transfer to other individuals because it is difficult to verbalize...