The term knowledge management describes the generation, storage, control and provision of knowledge within a company.
Knowledge includes the data and information compiled by the company (compare Information Management) as well as the personal experience, skill and competence of the individual within the company. In this context one differentiates between explicit knowledge and implicit knowledge.
Explicit knowledge and implicit knowledge
Explicit knowledge stands for knowledge that can be formulated and documented; i.e. it is suitable for storage in documents.
Implicit knowledge on the other hand is not suitable for formulation and is, thus, difficult to place.
Apart from the difference between implicit and explicit knowledge, one can also differenciate between individual and collective knowledge.