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Essay / Research Paper Abstract
This 8 page paper considers how companies may gain a competitive advantage though the use of employee knowledge also known as intellectual capital. The paper outlines the way in which value can be created and then looks at examples of how employee knowledge has resulted in competitive advantages. The bibliography cites 7 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEempkno.rtf
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Unformatted sample text from the term paper:
be the employees and the knowledge they possess, such as their intellect or specialist knowledge. Companies that are able to tap into this aspect of their employees and utilise this
resource, intellectual capital, have the potential to gain a competitive advantage that will be unique and difficult for competitor to imitate. The
majority of companies all accept that managing this asset is important but only 36% of companies have formal policies for sharing knowledge assets with even fewer having formal policies or
strategies for capturing such assets. (Davis et al, 1999). For this to be managed the process by which it can be utilised needs to be understood.
Human knowledge that is useful in the workplace, by necessity encompasses a large amount of constantly changing and evolving information, either due to a changing
environment such as new developments, or simply by individual experience. An organisation will work in a similar way, needing the discipline to embrace and recognise the changes if it is
to survive and flourish. Quinn (et al, 1996) broke this process down into four distinct stages. Firstly cognitive knowledge, this he describes as know what. This is the knowledge collection
stage and the discipline needed to achieve that information. Similar to an individual undertaking a training course. Although indispensable, commercial success will require more than just knowledge. The next
stage of advanced skills he describes as know how, this is the transition from learning into effective doing. The translation and adaptation of the learned approaches to real scenarios. Arguably,
the most common stage at which value is added. After know how comes the know why or understanding the systems. (Quinn et al 1996). This entails understanding why particular
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