Tacit knowledge is not easily recognized or acknowledged, but it can be a key factor in enhancing the quality of strategic decisions made by the top management team. A working definition of tacit knowledge is the work-related practical know-how that is acquired through direct experience and instrumental in achieving goals important to the holder. The study provides an integration of the cognitive and strategic literatures to show that tacit knowledge is accessible and how it plays an integral role in the context of strategic decision making. The authors propose that better decisions will occur when tacit knowledge is employed overtly during strategy sessions. Among other methods, the use of guided mental imagery seems to provide the simultaneous benefits of explicating tacit knowledge as well as enhancing the socialization process necessary for its transfer among team members.

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Management approaches used by many healthcare organizations lag behind those of similar competitive industries. The authors of this article report findings from an exploratory study of executives' perceptions of training needs in managerial strategy. The authors asked executives to rate the level of knowledge required for each of five key areas in strategic management and then to assess actual levels of knowledge in the field. They found that (a) strategic management is vital in this competitive industry, (b) there is a disconnect between what healthcare managers should know and what they actually know about the tasks of strategic management, and (c) more resources need to be devoted to strategic management training and the development of managers at all levels of healthcare organizations.

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