As a manager, what does it mean to you, the term "know practice"?

• Know how the practice works.
• Operations that are mandatory to run it efficiently.
• Know the need of your clients.
• Denial Managament.
• Timely resolutions and responses.

Knowing is for doing/practicing for becoming

Say I want to become CEO. First I must know what is CEO and then start practicing in such a way others should be able to recognize my CEO capability. Certainly I will become a CEO one day.