4 Knowledge-based view Flashcards

Learning Objective: Knowledge of the firm 1. Types of capabilities 2. Asset-light business models

1
Q

What is the Knowledge-based View (KBV) of the firm?

A

KBV is a management framework that emphasizes the importance of knowledge as the most strategically significant resource of a firm.

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2
Q

How does KBV differ from RBV?

A
  • While RBV focuses on a broad range of resources,
  • KBV specifically highlights knowledge as the key resource for achieving a competitive advantage.
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3
Q

What are the primary types of knowledge in KBV?

A
  • Tacit knowledge (95%)
  • Explicit knowledge (5%)
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4
Q

Define, Tacit knowledge.

A

Knowledge that is ..

  • personal,
  • context-specific,
  • hard to formalize or communicate,

.. often based on individual experiences and skills.

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5
Q

Define explicit knowledge.

A

Knowledge that is, ..

  • codified,
  • systematic,
  • easily communicated or shared,

.. such as in documents or databases.

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6
Q

Why is tacit knowledge considered more valuable in KBV?

A

Because it is, ..

  • unique, difficult to replicate,
  • can provide a sustainable competitive advantage.
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7
Q

What role does organizational learning play in KBV?

A

Organizational learning is crucial for, ..

  • creating,
  • retaining,
  • transferring knowledge

.. within a firm to enhance its competitive position.

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8
Q

How does KBV suggest firms should manage knowledge? (2)

A
  • By developing systems and practices
  • that facilitate knowledge creation, sharing, and application across the organization.
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9
Q

What is
knowledge integration
in KBV? (2)

A

The process of combining, ..

  • different types of knowledge
  • from various sources

.. to create new knowledge or innovations.

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10
Q

How can firms protect their knowledge according to KBV? (3)

A

Through, ..

  • intellectual property rights,
  • confidentiality agreements,
  • creating a culture that values and secures proprietary knowledge.
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11
Q

What is the importance of knowledge networks in KBV? (2)

A

Knowledge networks, ..

  • enable the flow of information and collaboration among employees,
  • enhancing the firm’s ability to innovate and respond to changes.
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12
Q

Give an example of a practice that supports KBV.

A

Implementing knowledge management systems that capture and disseminate (verteilen) best practices and lessons learned across the organization.

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13
Q

How does KBV explain differences in firm performance? (2)

A

Differences in firm performance are attributed to, ..

  • variations in knowledge assets
  • ability to effectively manage and utilize these assets.
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