Whether in high-tech, service, or traditional industries, the role of knowledge as a primary driver of development is being increasingly recognized. It is not clear, however, whether managerial approaches based on mindsets rooted in past practice are appropriate for, or capable of, fully realizing the potential value of knowledge within the firm and/or industry. At least three related issues stand in the way of full knowledge utilization: conceptualization and measurement of knowledge capital as a primary organizational asset, the integration of knowledge capital into the strategic management process, and the development of organizational forms and processes that facilitate the use and development of knowledge. While leading-edge firms are already wrestling with these issues, advances in theory and research are needed to help develop appropriate responses and provide frameworks that will help spread these new approaches. In doing so, advances may also be made that allow for the recognition of the central role of collaboration in the knowledge process.
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