Tacit Knowledge Sharing and Value Creation in the Network Economy: Socially Driven Evolution of Business
Key factors which affect competitive advantage in the network economy are innovation, relationships, cooperation, and knowledge. Sharing knowledge is not easy. Companies find it problematic. Presented studies show that the essence of the value creation today is not in sharing explicit but rather tacit knowledge, which is a source of creativity and innovation. Delivering value through knowledge does not only require efficient Transactive Memory Systems (TMS) but most of all a thorough approach to effective human interactions. Thus, to ensure tacit knowledge sharing, human resources management (HRM) needs to focus on the culture of collaboration, whose key element is trust among organization members. The aim of the chapter is to highlight that the network economy driven by knowledge workers as tacit knowledge producers caused the socially driven evolution of business.
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