From Knowledge Codification To Application: An Agent Perspective

Abstract

While firms spend millions on data collection and knowledge codification, knowledge remains an elusive asset unless firms can strategically apply knowledge for securing competitive rents and sustainable advantages. This paper proposes a knowledge process reengineering that can allow firms to process their codified knowledge to secure rents through innovation and innovation diffusion. The reengineering emphasizes the roles of various knowledge application agents as intermediaries that can streamline the process. The knowledge application reengineering shows how knowledge can be exploited by transforming the stock of codified knowledge into creativity; then creativity to innovation; and finally the subsequent “selective” diffusion of innovation into data and knowledge. This implicates the perpetuity of knowledge management.