Harnessing Explicit Knowledge

Wusheng Zhang

Journal of Economics and Behavioral Studies, 2011, vol. 2, issue 3, 97-107

Abstract: In the search for sustainable competitive advantage, managing knowledge is critical not only for large organizations but also for Small and Medium sized Tourism Enterprises (SMTEs) where limited resources and the lack of the strategic direction are prevalent. Findings from the literature review suggest that, in relative terms, SMTEs are less ready for implementing knowledge management projects than are large organizations. It is also suggested that SMTEs are in need of practical strategic guidance if they are to make the most of the, often under-exploited, knowledge within and available to their organizations. For the support of SMTEs’ initial needs for knowledge management, this paper proposes a strategy aimed at harnessing explicit knowledge and strategic activities based on an extensive analysis of the literature. The proposed strategy contains actionable steps with timelines and milestones that can be implemented and modified iteratively by SMTEs, with in-built assessment and measurement mechanisms. The results of our study suggest that implementation itself can be flexible as well as iterative with no need for all the steps outlined for an improvement of the knowledge management process to be followed.

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:rnd:arjebs:v:2:y:2011:i:3:p:97-107

DOI: 10.22610/jebs.v2i3.227

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