Defining the term Knowledge is very difficult, although we may instinctively know what knowledge is, we find it difficult to articulate its definition

Socialization is a process of sharing experience and thereby creating knowledge. It facilitates the transfer of the most difficult type of knowledge.

Verna Allee (2002) presents a new approach for managing knowledge organizations, she states that mastering value creation in knowledge economy requires an understanding of the pivotal role of intangibles and an insight on network dynamics.