The Characteristics of Entrepreneurial Knowledge (III)

Now for the third characteristic of entrepreneurial knowledge: entrepreneurial knowledge is tacit and inarticulate. What does this mean? It means that entrepreneurial action teaches us how to perform certain actions. It shows us how to acquire practical habits of behavior—what English speakers call “know-how.” So, we set out to gain some know-how, and there is a learning curve, and we need practice. We are developing habits of conduct, know-how. But we do not come to know exactly, in scientific or technical terms, the elements of our knowledge, how they relate to each other, nor the foundations they rest on. Knowledge of facts like these is called “know-what.” And we could give many examples of know-how.