Knowledge does not stand still, but needs to be kept realigned, refined, and reinvented to solve problems large or small and generate value.
Knowledge as soft resource: Knowledge assets blend intangible collective resources possessed by individuals and groups, including knowledge, talents, skills, capabilities, experience, intelligence, training, judgment, and wisdom. These resources represent a form of business asset to accomplish their goals and are crucial for economic and organizational performance.
Knowledge value: The value of knowledge emerges over time through an evolutionary and developmental process. As understanding of issues deepens and practice evolves, what is important may change. This emergent quality means that action research cannot be rigidly defined by methods but is instead a continually evolving work.
Innovation, whether concrete or abstract, plays a key role in developing sustainable methods because it creates alternatives to conventional ways of doing things. Recognize autonomous specialists whose work is judged by its merits, rather than conformity, is the best model for producing useful knowledge.
Human capital is an intangible collective resource encompassing the knowledge, talents, skills, experience, intelligence possessed by individuals and groups. This cumulative soft ssset represents a form of organizational capital investment available to organizations to accomplish their goals and is a key determinant of economic and organizational performance.
The border of knowledge domains has a blurred scope, and knowledge is expanded on a continual basis for generating value. Knowledge does not stand still, but needs to be kept realigned, refined, and reinvented to solve problems large or small and generate value to benefit their organizations and human societies.
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