Knowledge management is the collection of methods relating to creating, sharing, using and managing the knowledge and information of an organization. It refers to a multidisciplinary approach to achieve organisational objectives by making the best use of knowledge.

What is meant by tacit knowledge?

Tacit knowledge or implicit knowledge—as opposed to formal, codified or explicit knowledge—is knowledge that is difficult to express or extract, and thus more difficult to transfer to others by means of writing it down or verbalizing it. This can include personal wisdom, experience, insight, and intuition.

Why is organizational knowledge important?

Organisational Knowledge offers an opportunity for increased awareness about knowledge requirements. It ensures a sound delivery of quality outputs and promotes sustainable business. A handful of potential challenges arise with this.