Knowledge and strategic management

摘要

The article summarizes recent developments in the field of knowledge management and its vital influence on strategic management. Knowledge has become a resource of key importance with regard to the competitive advantage of a business. It thus strengthens the resource-based view of competitive advantage and develops it further by providing guidelines for developing, storing, and sharing knowledge within a business with the use of the concept of organisational learning. Tacit and explicit knowledge is distinguished in order to differentiate their contribution towards the competitiveness of a business. Based on these developments major trends affecting current development of strategic management are defined as well as recommendations drawn from the experience of leading subjects in the field.