Title:
Use of
New Knowledge and Knowledge Management to Gain Competitive Advantage
Abstract: New knowledge may
perhaps be the only remaining and one of the most critical sources of
competitive advantage available to an organization in the 21st century.
This is true; more so, as previously available traditional resources
may no longer offer any significant competitive advantage. To remain
competitive, organizations must create and use new knowledge. However,
the current practices in knowledge acquisition, utilization, and
management are mostly limited to capturing, recycling, and deploying
the existing information, and making it available on a technology
platform. This is done with the hope that individuals will not only use
the information made available to them, but will also voluntarily
contribute to the growth of the organization’s knowledge pool. Most
organizations are also woefully reluctant to realize that knowledge
obsolescence is inevitable, and that the knowledge based on
organizational consensus or common wisdom based on collective
experiences can be wrong. To create new knowledge and attain
competitive advantage, organizations need to locate and gather
information and business intelligence about their internal and external
consumers of knowledge and convert them into new knowledge.
Author:
Shahid A.
Sheikh