The Practice Of The Virtues

Good doctrine should be handed down and added to the knowledge base of the business and retained there and even shared with other individuals and busineses. It might be knowledge that has been acquired by founders and owners, by older members of a family business or by the workforce. It may be part of the culture. It should be part of normal practice. It should help maintain harmony. The virtues it embodies are attitudes, dispositions and habitual perfections of intellect and will. They guide our actions according to right reason. A virtuous person is free to practice good doctrine.

Experience is a key component of knowledge. It is what we have done and what has happened to us. It is something that has built up over years of observation, repetition, trial and error, feeling, analysis, interpretation, learning practice and feedback. It can lead to a build up of intuition. Expertise is a kind of knowledge of the tried and tested, what will work and what will not work. It can therefore be used to decide on an appropriate course of action and can help in situations of variety and complexity. Businesses try to keep the accumulated body of knowledge in the company so that they can continue to use it. The tacit knowledge of employees can be made explicit to the advantage of the firm. A firm can create a spiral of knowledge. When that special knowledge is lost the competitive advantage it gave is also lost. Older people have both explicit and tacit knowledge but the tacit knowledge they have of working in a firm should be valued, if it is good, because it can be passed on to others. It is wise to keep up with developments of doctrine to remain competitive.

There are a variety of ways in which knowledge can be transfered. Formal courses can be arranged in-house or outsourced. Informal methods such as 'sitting next to Nelly' may also be advantageous. The example and experience of older people is a valued asset.