Knowledge and it's types !
Humans are emotional and sensitive creatures. It's part of their instinct that they associate meaning to everything they observe and experience. People can have similar or differing experiences and can belong to similar or different social or cultural background. People learn through interaction and communication. They agree to some points and challenge the others. All this exercise done by human beings are creating a whole new type of knowledge called "tacit knowledge". Tacit knowledge is the knowledge which is formed on the basis of personal experiences, social, cultural background. People can have different experiences in the similar cultural backgrounds. This is when people add their own meaning to something or interpret some knowledge according to their point of view, that is knowledge is called tacit knowledge. Tacit knowledge is an important source of innovation. Because most the innovations were the thoughts of some individual as s/he observed the need of something in place which others were not aware of and then developed it, and it was a boom! Tacit knowledge is hard to formulate because it's not in static form, it's in the minds of people. It's the most abundant knowledge available, but it's very difficult to identify which knowledge is just a random thought and which is based on genuine experiences.
Explicit knowledge is the knowledge which is converted into some static form like soft or hard text or pictorial document. Explicit knowledge can't exceed tacit knowledge but explicit knowledge is used more to teach and train people because of its wider availability. It is separated from the man and then can be transmitted or communicated to anywhere needed. Efforts are being done to develop a system and framework to convert tacit knowledge into explicit knowledge, so it can be stored and reused. Tacit knowledge if not converted into explicit knowledge will perish along with the person. All the tacit knowledge can't be useful but most of the explicit knowledge can be used or updated for future. Tacit knowledge can be used for strategy making to differentiate from the competitor, this strategy can be more effective by supporting tacit knowledge decision with the explicit knowledge to find out what the world thinks about it? what the for and against arguments for a particular strategy? After identifying expected problems proactive measures can be taken to minimize or eliminate them.