John Israilidis, Russell Lock, and Louise Cooke of Loughborough University described ignorance management as: "[...] a process of discovering, exploring, realising, recognising and managing ignorance outside and inside the organisation through an appropriate management process to meet current and future demands, design better policy and modify actions in order to achieve organisational objectives and sustain competitive advantage.
This process of knowing what is needed to know, and also acknowledging the power of understanding the unknown, could develop a tacit understanding and could improve both short-term opportunistic value capture and longer term business sustainability.
[3] Several attempts have been made to explore the value of managing organisational ignorance in order to prevent failures within knowledge transfer contexts.
The need to recognise the role and significance of power in the management of ignorance has been introduced to further enhance such efforts.
[5] The viewpoint of developing our understanding of organisational ignorance can yield impressive benefits, if successfully incorporated within a company's KM strategy.