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Tacit knowledge is stored in a person’s head and is not easily put into words, whereas explicit knowledge is expressed tangibly and can be stored in databases or documents. Implicit knowledge is found in a person’s memory and can be coded and stored in databases or documents (Jennex, 2005, P.141). These three types of knowledge are what form the intellectual capital that is needed by PolySpec as it evolves. (1) Internal process knowledge related to PolySpec work processes This includes the trade secrets of the company such as patents and technical papers, the composition of the products especially the ratio of combinations, acquisitions and their competitive advantages, blue prints and formulas. This is in addition to the internal operations and communications of the company that is not open to the public such as confidential conversations and documents. For example, Buddy holds four patents, has published several technical papers and he has hands-on management style (Fielder, et al n.d, P.2). PolySpec has made several acquisitions including Selby Battersby, Thiokol Formulated Products, and Flowcrete Plc (UK) with each merger bringing in new competitive advantage and products (Fielder, et al n.d, P.2). …
(2) External process knowledge related to client tasks and projects This includes the knowledge of upcoming disputes regarding clients’ quality of workmanship, technical assistance to contractors, claims of mislabeled products, and product failures related to job conditions. For example, PolySpec technical personnel provide most of technical support through informal ways such as telephone conversations (Fielder, et al n.d, P.1). Also, the following litigations are as a result of product or project failure associated with PolySpec and its subcontractors: Instafreeze, Inc. vs. Environchem Technology and PolySpec Corp. W.J. Enterprises, Inc. vs. PolySpec Corp. Ladell Alexander, et al vs. American Cyanamid, et al. and B-Z-B, Inc, vs. Slip Free Systems, Inc, and PolySpec, L.P. (Fielder, et al n.d, P.7). The external knowledge process belongs to the knowledge acquisition stage of knowledge management process. (3) Product knowledge This includes the knowledge of company product categories, products professional opinions, product catalogues, product labels and product knowledge available in the company website. For example, PolySpec LP’s products falls into five major categories. however, earlier, it relied heavily on products catalogues and labels prior to starting to provide product knowledge in the website (Fielder, et al, n.d, P.4). Source: Fielder, et al n.d, P.5. Moreover, product knowledge belongs to the knowledge sharing stage of the knowledge management process. (4) Special knowledge about the customers/clients and/or suppliers/business partners This knowledge is associated with observance of patterns and trends regarding customers and business partners.
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