Document Type

Closed Project

Publication Date

Summer 2001


Dundar Kocaoglu

Course Title

Independent Study

Course Number

EMGT 606


Knowledge economy, Knowledge management, Technology -- Management, Engineering -- Management


Knowledge has increasingly been seen as the most important resource any organization possesses. It has been so important to business such as knowledge of market, competitors, processes, and its own organization. As a result, knowledge today has become a necessary and sustainable source of competitive advantage [16]. LeonardBarton [25] contends that "firms are knowledge as well as financial institutions. They are repositories and wellsprings of knowledge." In the post-industrial economy, the intangible assets have very important impact on a company's success [44]. A big difference between a company's book value and its market value has been a common phenomenon. The foundation of industrialized economies has shifted from natural resources to intellectual assets [14]. Knowledge Management has been of growing interest in corporate and academic communities. Both communities believe that an organization can sustain its long-term competitive advantage by leveraging knowledge. In the era of knowledge economy, it is a mandatory condition of success for organizations to implement Knowledge Management strategy effectively. However, the concept of Knowledge Management has not yet been given a clear definition because it is still new and thus continues to shift and evolve. There is not a consensus yet about the characteristics of knowledge and the ways these knowledge resources should be used. Researches and academics have taken different perspectives on Knowledge Management. This paper will attempt to provide an understanding toward this emerging area by reviewing the literature in Knowledge Management field.


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