Answered Essay: Describe the relationship between social networks and tacit knowledge within organizations

Describe the relationship between social networks and tacit knowledge within organizations. Conduct a cost benefit analysis of social networks within organizations and provide your overall view point on social networks.

Expert Answer

Tacit knowledge is the knowledge which resides within an individual in the form of experience, know-how, personal insights and so on. It is the most significant part of the human knowledge. Tacit Knowledge plays an important role in improving individual and organizational productivity and competitive advantage. For example, it is perceived as an important asset in improving quality of work, decision making, organization learning, productivity, competitiveness, serving customers, producing goods, accuracy of task performance, and lastly, having tacit knowledge is a major time saving for individuals and organisations.

Social networks within an organization plays a major role in improving the tacit knowledge among the people. More the people socialize, more the people communicate, better will be the knowledge sharing. Because, communication is a very important aspect of knowledge sharing. Apart from that, connectivity also plays a major role. Connectivity is the main feature of social network, which enables people to stay connected with each other easily in a real-time. Hence, Social networks has a prominant role to play increase and improve on the Tacit knowledge within the organizations.

2) Cost benefit analysis is a systematic approach in estimating the strengths and weaknesses of alternatives (for example in transactions, activities, functional business requirements or projects investments). It is used to determine options that provide the best approach to achieve benefits. Most of the social networks have significant influence on the success of the organization.

When workforce connect and communicate with each other in a way such that it creates a positive affect on the organization, then that improves the way people work in coherence and organizations create a positive culture within itself. But when social networks within the organizations do not coexist, or if the organization does not have a positive culture, then it results in having a gap between them which may have negative affects and which will ultimately result in cost due to not-so-positive or not so useful social networks.

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