Definition of Knowledge: Knowledge “is intangible, boundaryless, and dynamic, and if it is not used in a specific time and a specific place, it is useless.” p. 54 of Knowledge Management: Critical Perspectives on Business and Management, vol 2 edited by Ikujiro Nonaka
The value of knowledge is in its use.
Explicit Knowledge: expressed in words and numbers, documented and shared
Tacit Knowledge/Implicit Knowledge (article by Dinker Raval, Bala Subramanian, and Bina Raval) : rooted in individual’s action and experiences, highly personal, difficult to articulate and share, can be shared through conversation and storytelling , exchanged through joint activity (socialization) rather than verbal or written instructions,
- technical dimension – personal skills or crafts
- cognitive dimension/affective dimension – shapes how we see the world, beliefs, ideals, values
Transfer of implicit knowledge to explicit knowledge takes place in education, training, emails and other communication devices. individuals interact/engage, classify relationships, comprehend/internalize then act or add to their own tacit knowledge.
This is mostly what happens when we read fiction, we are adding to our implicit knowledge.
Knowledge Creation: a combination of explicit (books, notes) and tacit (experiences) knowledge that lead to creation of new knowledge.
Knowledge Creation in this article refers to a series of processes and activities that add value to an outcome such as a product, service or outcome. It is a process as well as an output/outcome. As an outcome it refers to generation of new ideas o objects that reflect enrichment of existing knowledge. Channels of communication/mobile devices facilitate knowledge creation.
Steps in Knowledge Creation:
- Sharing tacit knowledge
- Creating concepts
- Justifying concepts
- Building a prototype
Knowledge Creation Activities:
Activities in The Trilogy Model of Knowledge Creation slide 42
- Observation and Orientation – Analyzing, Comparing, Synthesizing
- Adaptation and Absorption – Making new strategies, Planning for action, Practicing new skills
- Manifestation and Substantiation – Demonstrating with facts and evidence
- Explicit Knowledge Creation – Educational institutions, Academic and Professional Associations, Think Tanks
- Implicit Knowledge Creation – Workshops, Collaborative Networks and blogs
- Knowledge Impartation – Teaching, Training, Continuing Education Programs, Mentoring Programs
- Knowledge Diffusion/Dissemination – Libraries, Broadband connectivity, Book clubs
- Global Knowledge Accessibility – Access to global knowledge resources and intellectual capital
- Knowledge Evaluation and Quality Assurance– Circulation of knowledge/Availability of professional journals and peer evaluation
Definition of Knowledge Economy: An economy that is driven by research, ideas, innovations, and technical skills to generate high-impact economic benefits and high-wage jobs.
- Conceptual Tools of Knowledge Economy:
- Knowledge Creation
- Competitive advantage