Knowledge sharing and management – LU 43
(knowledge)

In today’s and tomorrow’s business world it is important to ensure that a business has as wide a knowledge base as possible, of its markets, its customers, its competitors.

The salesman is an important source of this field data, frequently being the first in an organisation to be aware of changes and events taking place externally to the business. This knowledge needs to be shared in a systematic manner as it is very often in one person’s head as tacit knowledge and may be easily lost.

This valuable corporate knowledge is poorly documented and can lead to poor quality decision making by those without access to this ‘fount of knowledge’ and the failure of the business to leverage its knowledge for competitive advantage.

Knowledge can be classified along two axes: on one a continuum between tacit to explicit knowledge and on the other if it is accessible to an individual or the community. The key, therefore, is to find ways to convert tacit knowledge to explicit knowledge.