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Tacit Knowledge and Decision Making Practices in the Context of Family Businesses.

Authors

  • Nain Tara BZU
  • Zubair Ahmad IMS, BZU

DOI:

https://doi.org/10.52461/jimp.v2i2.1426

Keywords:

Decision making practices, Tacit Knowledge, Business Sense, Informal

Abstract

Decision-making practices in family business are crucial and usually involve several stakeholders. To determine the decision-making mechanism in the family business, qualitative research approach was carried out. 30 semi-structured interviews were conducted involving family owners and non-family managers. Thematic analysis was used to analyze data. Three themes such as Business sense, consultation with elders, and ceremonial approval of the board were generated. Study reveals that decision-making is informal and based on tacit knowledge. Study emphasizes the codification of tacit knowledge, the codification will make decision-making more formal and institutionalized.

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Published

2022-12-29

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How to Cite

Nain Tara, & Ahmad, Z. (2022). Tacit Knowledge and Decision Making Practices in the Context of Family Businesses. Journal of Information Management and Practices, 2(2). https://doi.org/10.52461/jimp.v2i2.1426

Issue

Vol. 2 No. 2 (2022): Journal of Information Management and Practices

Section

Articles

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Copyright/License

Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in JIMP. JIMP is using (CC BY-NC-ND 4.0), Attribution-NonCommercial-NoDerivatives 4.0 International.