What a Master Baker Taught Us About Managing Tacit Knowledge in Software Companies
In the late 1980s, Panasonic, a well-known Japanese consumer electronics company struggled to develop a commercial bread maker. Despite having access to top-tier engineers and written documentation, they just couldn’t replicate the ideal loaf of bread. The turning point came when one of their engineers apprenticed with a master baker to learn the subtle techniques that made all the difference. This is what happened.
Posted Date: 10/10/2024Read More ⟶
Recognizing Tacit Knowledge Gaps: 10 Critical Signs
In the software development development industry, tacit knowledge—the know-how that lives in employees' minds and is difficult to document—is the foundation for maintaining productivity, innovation, and team efficiency. Yet, this type of knowledge often goes unnoticed and until events such as employee turnover lead to it being lost, leading to delays, inefficiencies, or costly mistakes. Recognizing early signs of tacit knowledge gaps is crucial to ensuring long-term organizational resilience. Here are 10 critical signs that your software company may be suffering from tacit knowledge loss.
Posted Date: 02/10/2024Read More ⟶
Tacit Knowledge - The secret sauce in software development
In the fast-paced world of software development, where technologies evolve rapidly, markets are increasingly disrupted and shifting customer demands, the knowledge held by employees stands out as an indispensable -if not the indispensable- asset in software engineering organizations. Whilst there are various taxonomies of knowledge, the distrinction between Tacit and Explicit Knowledge plays a crucial role in software development.
Posted Date: 28/08/2024Read More ⟶
Insights from Panopto's research on knowledge loss
In an interview with HR Daily Advisor, Ari Bixhorn, Vice President of Marketing, at Panopto delved into insights gained from its research about the loss of company knowledge when employees leave an organization.
Posted Date: 28/08/2024Read More ⟶
Knight Capital's $440 Million Lesson on Tacit Knowledge Loss.
In 2012, Knight Capital Group, a major player in the financial trading industry, suffered a catastrophic loss of $440 million in just 30 minutes. This incident, which nearly led to the company's collapse, serves as a stark reminder of the critical importance of tacit knowledge in highly technical environments.
Posted Date: 27/08/2024Read More ⟶