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Introduction: Why We Need a New Theory of the Knowledge-Based Firm

In: Managing Flow

Author

Listed:
  • Ikujiro Nonaka
  • Ryoko Toyama
  • Toru Hirata
  • Susan J. Bigelow
  • Ayano Hirose
  • Florian Kohlbacher

Abstract

We are currently in the midst of great change, a condition which Lester Thurow (2003) called the third industrial revolution. It is a shift towards a knowledge-based economy, where knowledge is the most important resource, superseding the traditional management resources of land, capital, and labor (Drucker, 1993). This has stimulated more active discussion about the theory and practice of “knowledge management.” Yet most firms still have serious difficulty understanding the knowledge resource, and we still lack an effective theoretical framework for understanding the operations of the firm in the knowledge-based economy.

Suggested Citation

  • Ikujiro Nonaka & Ryoko Toyama & Toru Hirata & Susan J. Bigelow & Ayano Hirose & Florian Kohlbacher, 2008. "Introduction: Why We Need a New Theory of the Knowledge-Based Firm," Palgrave Macmillan Books, in: Managing Flow, pages 1-5, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-58370-2_1
    DOI: 10.1057/9780230583702_1
    as

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