Tacit Knowledge and Strategic Decision Making

Tacit knowledge is not easily recognized or acknowledged, but it can be a key factor in enhancing the quality of strategic decisions made by the top management team. A working definition of tacit knowledge is the work-related practical know-how that is acquired through direct experience and instrume...

Full description

Saved in:
Bibliographic Details
Published in:Group & organization management 2002-12, Vol.27 (4), p.436-455
Main Authors: Brockmann, Erich N., Anthony, William P.
Format: Article
Language:English
Subjects:
Chief executive officers
Decision making
Decision making models
Explicit knowledge
Knowledge
Strategic management
Strategic planning
Studies
Subconscious
Tacit knowledge
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Tacit knowledge is not easily recognized or acknowledged, but it can be a key factor in enhancing the quality of strategic decisions made by the top management team. A working definition of tacit knowledge is the work-related practical know-how that is acquired through direct experience and instrumental in achieving goals important to the holder. The study provides an integration of the cognitive and strategic literatures to show that tacit knowledge is accessible and how it plays an integral role in the context of strategic decision making. The authors propose that better decisions will occur when tacit knowledge is employed overtly during strategy sessions. Among other methods, the use of guided mental imagery seems to provide the simultaneous benefits of explicating tacit knowledge as well as enhancing the socialization process necessary for its transfer among team members.
ISSN:1059-6011
1552-3993
DOI:10.1177/1059601102238356