Along with human, intellectual, relational, and physical assets, knowledge is a key organisational asset. Knowledge drives business activity, fuels innovation, and creates a sustainable competitive advantage; it typically increases in value and influence as it is used and shared throughout an organisation. 

Knowledge is what employees understand and apply to their roles and interactions as their experience within the organisation grows. A clear example of this in practice is a customer service agent who can simplify a complex regulatory term for a customer without altering its legal meaning, thereby ensuring compliance and understanding. 

Knowledge is not data, nor is it information. Knowledge is the bridge between information and wisdom.  Knowledge is what organises and connects information, giving it meaning and structure.  When knowledge is consistently applied and refined through experience, it evolves into wisdom as shown in Figure 1: Knowledge Hierarchy below.  

`Figure 1: Knowledge Hierarchy

Different types of knowledge 

There are two types of knowledge: explicit and tacit 

1.Explicit knowledge 

Explicit knowledge is knowledge covering subjects that are easy to document and share - what we know as structured information. Explicit knowledge is more formal and includes content like FAQs, instructions, reports, diagrams, one-pagers, and strategy slide decks. 

Explicit knowledge has traditionally been what is captured in a Knowledge Management System [KMS]. It is formalised documentation, such as the process flow in KnowledgeIQ pictured in Figure 2 below, that can be used to perform in a role, make a decision, or inform an audience. Explicit knowledge is easily shared. 

Figure 2: Process Flow in KnowledgeIQ 

2. Tacit knowledge 

‍Tacit knowledge is intangible information that can often be difficult to explain and typically relates to what is often “assumed” without necessarily being said. Tacit knowledge is informal, learned with experience over time, and usually applies to a specific situation. It is no surprise that most organisational knowledge is tacit and stored in people’s minds. About 80 % of organisational knowledge is tacit, while explicit knowledge makes up only 20%, as illustrated in Figure 3 [Source: Botkin J, Seely C. The Knowledge Management Manifesto, Knowledge Management Review, 2001] 

When tacit knowledge can be captured, it should be added to a knowledge system, making it easy to share expertise gained over time with others. It does not need to be a long or formal document; it can simply be tips on dealing with a difficult challenge or a few lines of feedback to guide someone. 

Figure 3: The 80/20 Knowledge Split 

Making tacit and explicit knowledge accessible 

No matter how organisational knowledge is defined, it all plays a vital role in daily enterprise operations. 

Knowledge systems are excellent at capturing structured information but often fall short when it comes to capturing corporate memory and experience. This creates a gap in your organisation’s ability to retain tacit knowledge. 

To overcome this, KnowledgeIQ can capture and provide access to tacit knowledge in several ways: 

• Give ownership and confidence to everyone by centralising all sources of information and content creation, making it easy for everyone to be an expert. Empower your employees with confidence; engage them with content, ask for their input, and allow them to be the benefactors of their own learning by creating a space for them to nurture it. 

• Facilitate feedback to support your organisation.  Employees can create both specific and general feedback and respond directly to the content creator as shown in Figure 4 below. 

Figure 4: Providing Feedback in KnowledgeIQ 

Find out more on how KnowledgeIQ can help you bring together and retain your organisations knowledge. Request a discussion  with one of our experienced team members today.