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Knowledge Management

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1. Introduction
‘Knowledge is power’, an old saying from Francis Bacon, which is considered as a true statement that has been recognised for a long time (Greco, 1993; Nielsen and Rasmussen, 2011). Especially, in recent 20 years, the interest and importance of knowledge in organisations has been increased remarkably in both theoretically and practically (Cheema, 2010; Knight and Howes, 2003; Rasmussen and Nielsen, 2011). The reason is revealed by Migdadi (2009) and Politis (2005), in the new economy, the intangible resource, knowledge has become the foundation of organisational competitiveness compared to tangible assets. In other words, the traditional driving factors of production, including, land, labour and capital have turned into the secondary resources as knowledge become the primary source of power in production within the contemporary economy. The work of Rasmussen and Nielsen (2011) reveal that intangible resource is regarded as a typical feature of knowledge, which can build capabilities for both organisations and individuals, consequently, in this new economy, also can be called knowledge-based economy made knowledge become strategically important to provide sustain competitive advantage for enterprises, especially in high technology and bioengineering sectors (Niu, 2010). Knowledge therefore has emerged as a main source of power as well as core competency in today’s emerging economies.

However, new possibilities and threads are constantly taken place to challenge the power of knowledge when organisations are under pressure to operate their business globally. As the result, with rapid and constant changed environment, it is important to developing “dynamic capabilities” (Teece et al., 1997), which means to active and conscious use of knowledge for organisations as they need to survive and succeed (Gao et al., 2008; Gold et al., 2001). It can infer...

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