Not All Knowledge Is Created Equal. Deep smarts are the engine of any organization-as well as the essential value that individuals build over their careers. Distinct from I.Q., this type of expertise consists of practical wisdom: accumulated knowledge, know-how, and intuition gained through extensive experience. How do such smarts develop? And what happens when people with deep smarts leave a particular job-or the organization? Can any of their smarts be transferred? Should they be? Basing their conclusions on a multiyear research project, Dorothy Leonard and Walter Swap argue that cultivating and managing deep smarts are critical parts of any leader's job. The authors draw on examples from firms of all sizes and types to illustrate the connection between deep smarts and organizational viability and continuous innovation. Leonard and Swap describe the origins and limits of deep smarts and outline processes for cultivating and leveraging them...