The significance of tacit knowledge on company's innovation capability

Nowadays innovation success is becoming even more important. After months and years of restructuring and cost cutting to regain profitability, many firms are forced to renew their product portfolio. Only with new products can they sustain their competitive position by increasing revenues and profit, leading to an improved company value. But do the firms have the right conditions and environment to lead them to maximum innovation success? Do they understand the appropriate triggers and levers for optimising their innovation success? The authors stress the role of tacit knowledge as one key lever for achieving this innovation success. They analysed the existing published works on tacit knowledge and innovation management, by reflecting the relevant dimensions leading to a smooth interplay between tacit knowledge and innovation management with the aim of innovation success.