Tacit knowledge is very special and personal because it is stored in people’s heads. Learning and experiences are the main ways through which tacit knowledge is accumulated and can be grown through trial and error. It is developed in the course of interacting with people is very difficult to formalize, articulate or record. Some characteristics of tacit knowledge include intuition, insight, foresight and conjectures. Tacit knowledge is a very personalized form of knowledge and can only be transferred or shared with a 2nd party only when the owner has the ability to and the willingness to shares this resource you cannot see.
Sharing of tacit knowledge is one of the greatest challenges organizations today although this can be communicated and shared through activities like conversation, workshops, on-the-job training and communicated through e mails, groupware, instant messaging and other related technologies. In any organization, tacit knowledge is the essential prerequisite for making good decisions and therefore plays a very crucial role getting things done and creating value for the organization.