management has always existed as an informal process i.e. apprenticeships,
colleagues chatting, or a parent handing over her/his business to offspring.
As a formal theory knowledge management has developed in a response to
advances in technology - the scope and speed by which knowledge is accessed
and exchanged now a days. Individuals and companies continually seek sport ter
ways to harness this knowledge potential, therefore knowledge management
works to provide real world solutions and best practices.
While knowledge management as a whole involves action, there are sub-sets
of knowledge management which can be further defined. The Knowledge Creating
Company of Oxford University Press, suggest using the concepts of data,
information, tacit knowledge and explicit knowledge to describe different
types that are relevant to an organization. Tacit knowledge is knowing
what has been internalized, and is difficult to share or express. Explicit
knowledge has been externalized, and is easier to exchange. The knowledge
creating company conclude that all knowledge creation begins with the