The Knowledge Based View of the Firm
Organization’s effectiveness and efficiency is based on its ability to gather, produce, maintain and disseminate knowledge which is used to produce products and services
Knowledge is a central asset of the firm
Knowledge is a complex concept and includes information, social relations, personal know how, and
Knowledge is explicit or tacit
Knowledge can be embedded in a machine
Organizations can learn and change their behavior based on new information or knowledge
Compare: facts, truth, objective, subjective, information, advertising, knowledge