Question

Which approach to knowledge management capitalizes on tacit knowledge and requires heavy IT investment?

Answer 1

The process approach

Step-by-step explanation:

In knowledge management, three approaches exist. They are:

1. The Process Approach
2. The Practice Approach
3. The best practices Approach.

1. The Process Approach: In this approach technologies, processes, controls are formalized to systematize organizational knowledge. This implies that heavy IT investments (such as groupware, support tools, repositories, etc.) are made to optimize the speed and quality of knowledge creation and distribution within the organization.
2. The Practice Approach: This approach considers organizational knowledge as tacit, which means that knowledge that is passed is difficult to document. The use of technology, processes, and controls does not apply to this approach, unlike the process approach. Knowledge moves through the organization through a person-to-person contact manner.
3. The Best Practices Approach: This is a dynamic approach to adopt the best methods and activities necessary for meeting organizational goals.

The Process approach is the knowledge management approach that capitalizes on tacit knowledge and requires heavy IT investment.