Understanding processes and adding value within innovative small firms

Abstract

The growing importance of the uses of information and maximizing knowledge utilization are illustrated in this paper within the framework of a sample of twenty new technology‐based small firms. These firms were recognized as being innovative by their peers and customers. The interrelationship between their business processes, the value which is added to products or services at different stages in their operation and the importance of increasing their knowledge bases through the development of key staff members are issues which are explored in the paper. In order for these small organizations to compete in dynamic markets they must not only develop the human resource where tacit knowledge resides, they must also retain and nurture this knowledge base. Copyright © 1999 John Wiley & Sons, Ltd and Cornwallis Emmanuel Ltd.

Using knowledge within small and medium‐sized firms: A systematic review of the evidence

“…In terms of what constitutes a knowledge base for innovative SMEs, a critical and overriding element of their intellectual capital seems to be those people they employ. Keogh (1999) finds in his study that owner-managers are aware of a need to develop a human resource competence in nurturing and retaining their knowledge base. Without the people in place, these firms recognized that their competitive future would be very short.…”

“…(3) The consistency and strength of internal ties (teams and people employed) within SMEs play an important role in knowledge construction and consequently innovation. The management of teams by entrepreneurs emerges as a key finding for the effective use of knowledge (Darby and Zucker 2003;Irani et al 1997;Keogh 1999;Soderquist et al 1997). (4) The absorptive capacity of SMEs, which is dependent on relations and structures that allow the access to and dissemination of relevant knowledge, plays a role in their ability to act on opportunities (Liao et al 2003;Meeus et al 2001).…”

Knowledge management during radical change: applying a process oriented approach

“…It is also clear that people are at the heart of the subject and hence it is most vulnerable when the organisation loses key people (22). Continuous or adaptive change is an inherent part of an organisation's fabric (23), and adjustments in tacit and explicit knowledge are a consequence of even minor changes such as natural employee turnover (24).…”

Global competition and the Australian biotechnology industry: developing a model of SMEs knowledge management strategies

“…In the emerging knowledge-based economy innovation has become an increasingly important element in acquiring competitive edge (McAdam, 2000). Simultaneously, it has been recognized that effective KM strategies can act as potential catalysts for innovation (McAdam, 2000) and that knowledge and know-how are key assets of innovative companies (Keogh, 1999). Keogh (1999) has further demonstrated the vital role of the interaction of intellectual capital (organizational knowledge, knowledge of individuals and information), with innovation and competitiveness in technology-based companies.…”