Tacit Knowledge Management (TKM), Essay Example

Tacit knowledge is a necessary component of enhancing organizational efficacy. As such, tacit knowledge management (TCM) is regularly discussed in the literature. The broad purpose of the present study is to provide an in-depth understanding of the tacit knowledge perceptions in a real-life business setting, to explore the specificity of tacit knowledge in the industrial sector, and to provide empirical evidence about the management and transfer techniques applied to tacit knowledge in Company Y. In addition, the results will attempt to bring about a social change by means of identifying successful knowledge management and transfer techniques contributing to innovation, improvement of the industrial workflow, and acceleration of various industrial operations; to identify ways of improving access to the body of knowledge generated within the company for employees; to reveal the ways in which successful tacit knowledge management and transfer techniques can encourage the establishment of the knowledge society.

The literature suggests that knowledge transfer can be defined in terms of transfer between particular people or groups, the outcomes of such influence, and feedback within the learning system. Since quality of life often depends on quicker access to information, today’s business companies greatly rely on their knowledge management and transfer. Businesses are able to remain competitive if they are able to draw upon this data at a rapid pace. To achieve this understanding, a literature review will be used to gain a more comprehensive understanding of tacit knowledge, how it is used in industry today, and how this knowledge can be adapted to individual organizations to confer an advantage. Company Y’s tacit knowledge management techniques will be discussed in a manner that will help organizations achieve an understanding of effective practice.