Dynamic utilisation of knowledge in decision making
The contribution of this research is a set of novel insights on the interplay of knowledge assets during decision making. Knowledge is conceptualised as a dynamic resource. Its value is a function of the contribution it makes relative to other knowledge stock at a point of application. The information flows can renew the resource, and the influence of power makes the knowledge development process subject to reconciliation of local interests. The focus on dynamics of knowledge development through a set of value-adding\ud processes also moves the analysis away from the rational and political perspectives of knowledge in decision making. This offers an alternative view on how the value of knowledge can be assessed and understood. The research proposes how the decision making process could be a useful mechanism for the development of dynamic capabilities. The findings stem from the view of knowledge developed in this research as a knowledge\ud capsule comprised of two or three knowledge assets which can draw upon two other types of knowledge from outside the decision process. The analysis relies on two in-depth strategic decision case studies and suggests that the value of knowledge can be identified from the point at which the central decision is generated. The value of each interplay can be assessed in a 'transactional' space where three types of knowledge 'meet'. Decision making is a knowledge-creating activity. The interplay of knowledge assets is a source of value in decision making and, this thesis argues, the basis of heterogeneity of this strategic asset between organisations. Power\ud impacts the contribution of knowledge assets and through application is redistributed during the decision making process. As knowledge stocks interplay, some knowledge is attuning and some advancing the work in decision episodes. The value can be identified by assessing the outcomes of interplay such as insights and decisions. The managerial implications focus on the challenges for developing knowledge assets and the extraction of value from existing knowledge assets during strategic decision making.
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