Tacit knowledge in government‐led R&D project selection

Summary

This paper explains that tacit knowledge is a critical component for the success of government‐led R&D project selection, where rapid and accurate decision making need to be made under lack of information circumstances. It also explores ways to fully exploit the tacit knowledge of experts participating in the Korean government's R&D project selection process. Some of these include: (1) strategic attention from the top officials, (2) forming self‐organizing teams, (3) establishing a horizontal and risk‐taking culture, (4) encouraging a sense of responsibility in creating and sharing tacit knowledge, and (5) providing a seamless monitoring system and training.

Key words:

• government‐led R&D project
• project selection
• tacit knowledge
• Nonaka and Takeuchi's model