Knowledge That People Have but Cannot Be Easily Explained to Others

question 31

Multiple Choice

Knowledge that people have but cannot be easily explained to others is referred to as:

• A) tacit knowledge.
• B) explicit knowledge.
• C) illicit knowledge.
• D) artificial knowledge.

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Definitions:

Voluntary Turnover

The act of employees leaving a job on their own accord rather than being fired or laid off.

Innovative Products

New or significantly improved goods or services that introduce novel features or capabilities to the market.

High Margins

Situations where there is a significant difference between the cost of producing a good or service and its selling price, typically indicating a high profit potential.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the net profit from the investment by its cost.