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By what means might an organisation seek and maintain competitive advantage from knowledge and innovation?
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By what means might an organisation seek and maintain competitive advantage from knowledge and innovation? One of the characteristics of modern, free market economy is that they inevitably place ambitious companies on a constant quest for ways to obtain a competitive advantage over their competitors. A big role in gaining such an advantage is played by innovation often associated with information processing and knowledge creation. In the following essay we are going to examine what competitive advantage is and analyse what knowledge and innovation is, linked by competitive advantage. A competitive advantage occurs when one firm consistently has an unreasonably high chance of winning. The most common test of wheather a firm routinely has such an advantage is shown in a superior profit record to other firms in the same industry. Ohmae (1982) assert that business strategy is all about competitive advantage. He argues that without competitors there will not be need...
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