Knowledge And Knowledge

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Nonaka and Takeuchi (1995) define knowledge as "beliefs and commitment (function of a particular stance, perspective or intention), action (to some end) and meaning (context specific and relational)." Whereas, Davenport and Probst (2000) refer knowledge as "the whole body of cognition's and skills that person uses to solve problems and based on data and information, it is always bound to persons." Knowledge is valuable intellectual asset to a firm captured by individual (Ahn and Chang, 2002; Sathasivam et al., 2009) and it is one of the most crucial resources in the economy to improve business operation, increase productivity and profitability and hence, sustain in the competitive market. This research defined knowledge as an individual asset in the form of intellectual asset such as opinion, beliefs, attitude or skill that can be interpreted and used for achieving objectives or goal. This individual knowledge is a precondition for firm knowledge (Meyer and Sugiyama, 2007) which results from the consolidation of employees in the firm through communication.
Bhatt (2002) contends that individual knowledge and firm knowledge are different but interrelated. Both knowledge interacts with each other depends on the firm culture. Furthermore, the author also highlights the key element for firm knowledge is “interactions” among firm members. Firm knowledge is the collective knowledge from the interaction of individual in creating unique idea to complete specific task (Tsoukas & Vladmirou, 2001). Knowledge is kept with individual if interaction among firm members is limited; in fact most of knowledge is internalized within the firm through informal talk, discussion or interaction (Bhatt, 2002). This interaction enhances both par...

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...its include increase firm’s performance in terms of productivity, incremental innovation and dynamic capacity through efficiency of knowledge search, absorption and combination (Katila & Ahuja, 2002; March, 1991; McGrath, 2001). However it will incur more costs and high risk (Kang & Snell, 2007; Tinoco, 2007). Furthermore, too much explorative learning may give higher benefits (Levinthal & March, 1993) but will usually block a firm from achieving the actual return from its knowledge. As a result of continuous exploratory learning, less utilizing the firm stocks may lead a firm to run with inefficiencies (Kang & Snell, 2007). As such balance of both exploratory and exploitative learning is crucial to maintain firm’s current capacity (Chang & Hughes, 2012; Filippini et al., 2012; Hsu, Lien, & Chen, 2013; J. Lee & Bae, 2012; Raeth et al., 2012; Wang & Rafiq, 2009)

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