Knowledge as a Source of Competitive Advantage | Report

Running head: HUMAN RESOURCE MANAGEMENT
Knowledge as a source of competitive advantage
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1HUMAN RESOURCE MANAGEMENT
Abstract
Knowledge management is needed in terms of developing relevancy in the business
operations. For this, knowledge management systems are needed, which adds a digital touch
to the operations. Effective use of the technology lies in outsourcing and off-shoring the
information to the external environment. Assessing the movement of the knowledge from the
tacit to the explicit knowledge helps in gaining an insight in to the internalization,
externalisation and socialization process. This is effective for expanding the scope and arena
of the triple bottom line. Strategic planning in this context is effective for achieving higher
competitive advantage.

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Contents
1.0 Introduction..........................................................................................................................3
2.0 Literature review..................................................................................................................3
Conclusion................................................................................................................................23
References................................................................................................................................24

3HUMAN RESOURCE MANAGEMENT
1.0 Introduction
In the current competitive ambience, most of the businesses are dependent on the
information and knowledge for the operations. This need is fulfilled through the means of
formulating effective knowledge based strategies, which helps in the processes of outsourcing
and off-shoring the operations to neighboring countries. In this context, the business is global
and information driven, where the aim is to expand the customer rates. According to Mahdi,
Nassar and Almsafir (2019), knowledge and its creation helps in adding value to the company
glory. Mention can be made of the internet, which is a vital source for the companies in terms
of gaining an insight into the specific needs, demands and requirements of the clients and
customers. Within this, one of the important processes is that of the keyword search and
search engine optimization, which improves the focus of the businesses in terms of
globalizing the operations. In the past decades, there has been radical transformation in the
utilization of knowledge for the production purposes. Theoretical considerations indicate the
mechanisms behind sale of knowledge for increasing the sales revenue for the intelligent
assets and liabilities (Salunke, Weerawardena and McColl-Kennedy (2019). This assignment
attempts to critique the scholarly reviews on knowledge as a source of competitive advantage.
At the initial stage, the concepts related to the variables are clarified, which enriches the
knowledge of the readers. Conceptual framework is developed for developing crucial
linkages between the variables, which is assistance in terms of understanding the importance
of knowledge for achieving higher competitive advantage over the competitors. Along with
this, gaps are also identified in the process of reviewing the literary sources.
2.0 Literature review
Knowledge represents the familiarity, awareness and understanding of the subjects.
The specific forms of knowledge are facts, information, description and skills, which the

4HUMAN RESOURCE MANAGEMENT
individuals acquire through experience and collecting information through various sources.
There are mainly four categories of knowledge: conceptual, factual, procedural and
metacognitive. According to the statements of Piaget, there are mainly three types of
knowledge, which are physical, logical mathematical and social. Stajkovic and Sergent
(2019) is of the view that the basic sources of knowledge are perception, memory,
consciousness and reason. On the contrary, Gloet and Samson (2020) states that knowledge is
equal to justified true beliefs. It is a concept, which the individuals formulate according to the
gained experience. Plato perceived knowledge to be well adjusted true beliefs. Reference can
be cited of the epistemological knowledge, which measures the difference between
knowledge and the knowledge acquired. This type of knowledge is effective for ensuring
effective development of the human knowledge. Along with this, epistemological knowledge
also contributes in establishing tautological perceptions.
The types of epistemological conceptions of knowledge are knowledge in practice,
knowledge for practice and knowledge of practice. Knowledge for practice implies the
cognitive learning theory, which results in the transformation from the practitioner to decisive
thinker.. In case of the knowledge in practice, actions speak louder than the thoughts.
Interaction with the environment enhances the experiences gained through learning. In this
context, Baporikar (2020) is of the view that actions sets the ground for the knowledge.
Leaning results in experimenting with the skill mix. For knowledge of practice, it can be said
that proper application of the knowledge is crucial for achieving the desired outcomes. The
scope and arena of the knowledge is constantly expanding, which expands the scope and
arena of the knowledge horizons and thinking skills. Bloodgood (2019) is of the view that for
interpreting the new situations, preconceived knowledge can be applied. Evaluation of the
implemented knowledge is effective for gaining further insights into the ways in which new
knowledge can be gained.

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As a matter of specification, the different types of knowledge are apriori, aposteriori,
explicit, tacit, propositional and non-propositional. Apriori knowledge is when the
preconceived knowledge is applied. Delving deeper into the aspect, derivation of the
knowledge is exempted from experience. Deductive approach is beneficial in terms of
arriving at relevant conclusions. Idealism is the key towards gaining prominence for the
knowledge and experience gained. A-posteriori knowledge indicates the practical application
of the knowledge gained later. The sources of application are senses, which are subjected to
logical reasoning, reflection and understanding (Gaur, Ma and Ge 2019). The naturalists and
pragmatists are in favour of the propositions of this type of knowledge.
Competitive advantage is considered to be something, which helps in enhancing the
unique selling proposition of the companies and organizations. Ouakouak and Ouedraogo
(2019) highlights that without evaluation, the abilities are not valued in terms of the assets
and liabilities. Relative evaluation of the strengths helps in achieving a deeper understanding
of the managerial issues. Continuous improvement strategies are an endeavour for achieving
higher competitive advantage. Reinforcement of the competitive policies helps in averting the
instances of biases and conflicts. The sources from which competitive advantage can be
achieved are customer satisfaction, loyalty increase, increase of profit margin, product
offering value, variable size and scope.
Adopting flexible supply chain network would be effective for expanding the scope
and arena of the business. Farooq (2019) points out the competitive advantage cycle, which is
followed by the companies.