The knowledge a firm possesses can be a source of competitive advantage. Describe ways that a firm can continuously learn to maintain its competitive position.© BrainMass Inc. brainmass.com March 4, 2021, 6:16 pm ad1c9bdddf
Knowledge is the potential for action based upon data, information, insights, intuition, and experience. It is the critical link that connects all the human, technological and organizational resources available at the disposal of the firm, and represents its ongoing survival, performance, and competitive advantage. This key emphasis on intangible assets and knowledge capital defies precise measurement, as it can only be seen in action and performance. From a business strategic perspective, knowledge management is about obsolescing what you know before others do, and profiting by creating the challenges and opportunities others haven't even thought about. In the bigger picture, the focus of knowledge management is in the ever-changing environment in which societies, organizations, and individuals live, work, learn, adapt and survive.
Most executives and managers today embrace the notion of knowledge as a strategic asset. They are implementing a variety of knowledge management programs to explicitly and proactively harness and exploit the intellectual resources of their organizations. Organizations are beginning to recognize that explicit knowledge is merely the tip of the intellectual iceberg. The vast majority of knowledge in organizations is tacit, hard-to-articulate, and held in peoples' heads. It is created and shared via direct person-to-person interaction, story-telling, and shared ...
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