Knowledge-based theory of the firm From Wikipedia, the free encyclopedia Jump to navigation Jump to search The knowledge-based theory of the firm considers knowledge as the most strategically significant resource of a firm. Its proponents argue that because knowledge-based resources are usually difficult to imitate and socially complex, heterogeneous knowledge bases and capabilities among firms are the major determinants of sustained competitive advantage and superior corporate performance. This knowledge is embedded and carried through multiple entities including organizational culture and identity, policies, routines, documents, systems, and employees. Originating from the strategic management literature, this perspective builds upon and extends the resource-based view of the firm RBV initially promoted by Penrose and later expanded by others WernerfeltBarneyConner
Introduction Despite 50 years of development experience, fundamental questions remain unanswered. The world still lacks a comprehensive theoretical framework that adequately explains such phenomenon as the accelerating velocity of development exhibited by East Asian countries, the failure of Malthusian projections, the growing contribution of non-material resources not subject to depletion, the apparent failure of market policies in the transition of Eastern Europe, and conflicting predictions about the future of work based on the contrary recent Knowledge based theory of the firm of North America and Western Europe.
A profusion of economic theories provide explanations for specific expressions of development, but none unite the pieces into a unified theory that adequately defines the central principles, process and stages of development. This paper is identifies the central principle of development and traces its expression in different fields, levels and stages of expression.
The paper traces the stages in the emergence of higher, more complex, more productive levels of social organization through the historical stages of nomadic hunting, rural agrarian, urban, commercial, industrial and post-industrial societies.
It examines the process by which new activities are introduced by pioneers, imitated, resisted, accepted, organized, institutionalized and assimilated into the culture.
Organizational development takes place on a foundation of three levels of infrastructure - physical, organizational and mental. Four types of resources contribute to development, of which only the most material are inherently limited in nature.
The productivity of resources increases enormously as the level of organization and input of knowledge rises. Historically, social development has passed through three progressive, but overlapping stages in which three different components of human consciousness served as primary engines for social advancement.
The paper draws parallels between the catalytic role of population growth, urbanization, the spread of a money economy, and, most recently, Internet as accelerators of the development process. Looking backward, the development achievements of the world over the past five decades have been unprecedented and remarkable.
Looking forward into the next century, daunting developmental challenges confront humanity. Despite 50 years of intensive effort, the world is still blindly groping for adequate answers to fundamental questions about development and for effective strategies to accelerate the process.
Recent accomplishments point to the possibility of converting these 50 years of experience into a conscious and consistent theoretical knowledge.
Impending challenges point to the need for a comprehensive theory of social development that will lead to the formulation of more effective strategies. Observations and Questions about Recent Development Experience A few observations highlight some striking aspects of recent development experience that need to be theoretically understood and some perplexing questions that need to be answered to meet the opportunities and challenges of the coming years.
The world has made greater progress in eradicating poverty over the past 50 years than during the previous Over the past five decades, average per capita income in the world more than tripled, in spite of unprecedented population growth.
In developing countries, real per capita consumption rose by 70 percent between and What have been the principle reasons for this phenomenal progress? What do these results augur for the coming decades?
The pace of human development has increased dramatically and is still accelerating: It took the United Kingdom 58 years, beginning into double its output per capita. The United States did it in 47 years, beginning in Japan accomplished the feat in only 24 years, beginning in the s.
More remarkably, China has doubled in the past 10 years and is on course to double again in the next eight.
During the period from toreal per capita standards of living based on purchasing power parity multiplied twelve-fold in South Korea, seven-fold in Japan, more than six-fold in Egypt and Portugal, and well above five-fold in Indonesia and Thailand.Based on the knowledge-based view (KBV), the purpose of this study is to explore the impact of scientific knowledge resources on innovative performance, as well as the mechanisms, in the science-based innovation practice of biotechnological industry.
A Theory of the Firm: Governance, Residual Claims, and Organizational Forms [Michael C. Jensen] on ph-vs.com *FREE* shipping on qualifying offers. This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders.
Decision making under risk is presented in the context of decision analysis using different decision criteria for public and private decisions based on decision criteria, type, and quality of available information together with risk assessment.
Theory of Development. by Garry Jacobs, Robert Macfarlane, and N. Asokan [presented to Pacific Rim Economic Conference, Bangkok, Jan , ]. The knowledge economy is the use of knowledge (savoir, savoir-faire, savoir-être) to generate tangible and intangible ph-vs.comlogy, and in particular, knowledge technology, helps to incorporate part of human knowledge into ph-vs.com knowledge can be used by decision support systems in various fields to generate economic value.
The knowledge-based theory of the firm considers knowledge as the most strategically significant resource of a ph-vs.com proponents argue that because knowledge-based resources are usually difficult to imitate and socially complex, heterogeneous knowledge bases and capabilities among firms are the major determinants of sustained competitive advantage and superior corporate performance.