Knowledge management as a resource for competitive advantage
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Course
UU-MBA712 (UUMBA712)
Institution
Unicaf
In order for businesses to gain a competitive edge, Dasgupta and Gupta's theory—which is examined in this paper—proposes the vital relevance of producing, exploiting, and sharing information (Dasgupta & Gupta, 2009).
ASSIGNMENT POINT 2: Knowledge
management as a resource for competitive
advantage
NAME: KOMA EMMANUEL PETER ADI
STUDENT NUMBER: R2201D13550712
MODULE NAME: THEORIES OF MANAGEMENT
MODULE CODE: UU-MBA712
ASSIGNMENT WEEK 7
DATE: 4TH SEPTEMBER, 2022
, Introduction
Today's businesses must use their knowledge as productively as they can in a variety of
innovative ways if they want to remain competitive in the face of the globalization process
that has impacted so many of them. Companies today have changed from being labor-
intensive to being knowledge-based (Alvesson, 2004). Use of knowledge as a production
element has rapidly increased over the course of the last few decades.
According to the most contemporary knowledge management principles, knowledge is
being sold and used more and more in the creation of intelligent products by contemporary
businesses. According to Dasgupta and Gupta in 2009, "the increasing uncertainty in the
external business environment has focused attention on the resources and organizational
capabilities as the main source of competitive advantage" (Dasgupta & Gupta, 2009).
When compared to other companies in similar industries or to industry averages, the
business performs better (Barney, 1995).
Competition in the industry is frequent, and it has the power to build or break an enterprise.
While it is frequently unsettling and unsettling to see another firm profit from your flaws,
competition may also spur one’s company to become a better version of itself (Catherine
Cote, 2020).
The ability of large and medium-sized businesses to gather, process, and then sell
knowledge is a major driver of today's competitiveness between the major nations of the
world. As Porter pointed out, a country's competitive advantage cannot be sustained in an
unstable and uncertain international environment (Porter, 2008).
Today's businesses must compete in a difficult environment that is changing as a result of
globalization, technical advancement, the quick spread of new technology, and the creation
and use of knowledge (Hitt, 1998).
For a company to thrive and survive, it must adopt new practices. Generally speaking, a
company's core competencies provide it with a competitive advantage in the industry in
which it competes. Only if the business is able to meet consumer requests and make
constant improvements to its service or product will it be able to maintain this competitive
advantage in the market (Hamel & Prahald, 1994).
According to managers, merely identifying threats, opportunities, and competitive elements
is insufficient for a successful business plan. The most crucial inquiry is if the organization
has the necessary competencies to meet its objectives as different businesses acquire
various distinctive capabilities (Selznick, 1957).
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