April 30, 2011

Technology and Knowledge Management

Although effective leadership, culture and structure are important for successful companies, managing the firm’s assets are occupying a significant position in achieving strategic strategies and sustaining competitive advantage (Hitt, Keats, & DeMarie, 1998).

Assets management for acquiring competitive advantage focused on the physical assets in the past since it was functioning in the post-industrial revolution era. The importance of intangible assets such as people and information is increasingly taking a special importance. EFQM (2010) emphasises that excellent businesses should have the up to date technology and to effectively manage their knowledge and information. Therefore more theories and practices about managing knowledge appear in literature and in practical researches.

however, the integration of the two is the key for building the competitive advantage and achieving the desired returns. in maintenance for example, it is crucial to have a computerised system to manage the amount of data and information generated. new generation will, arguably, enhance performance and cut costs for its development is based on lessons learned from businesses experience.

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