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Course Title: Marketing Strategy Section: A Semester: Fall 2012 Program: MS-Mgt / PhD Mgt

[Introduction Of CP]
Submitted to: Submitted by:M.Farrukh Iqbal
Abdul Waheed

12004051002 12004051014

Due Date: Submission Date: Marks: Comments: _____________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ ______________________________________________________________________.

Introduction In the past business environment firms usually used three generic strategies named as cost leadership, differentiation and focus strategies to gain competitive advantage, In this dynamic business environment which is composed of characteristic such as globalization,

interconnectivity and intangibility business organization are facing new challenges (Coyle 1999; Kelly 1998). Knowledge management has appeared as a strategic viewpoint supporting firms to develop strategic competences to cope up with the increased dynamism and uncertainty of the business environment. Through the systematic acquisition, creation, sharing, and use of knowledge, organizations develop, renew, and exploit their knowledge-based resources, thereby allowing them to be proactive and adaptable to external changes and attain competitive success. Knowledge Management is A process in general system theory with four categories including knowledge acquisition and creation, knowledge capture, storage and retrieval, knowledge dissemination, transfer and sharing, and knowledge application that organizations decide to manage to gain competitive advantage. (Kongpichayanond 2009, p. 382) (Massa and Testa 2009, p. 131).organization develop, renew and exploit knowledge based resources by systematically developing, sharing and acquiring the knowledge and letting them to be preemptive to the external dynamic environment and to attain competitive advantage. Knowledge Management to gain competitive advantage has become more vital from last few this era of information knowledge should be considered as tacit source to cultivate the CA. (Miller, 2011).According to Hofer-Alfeis, 2003 acquisition and practice of KM in continuously and rapidly increasing in organization and because of this improvement the race to gain competitive advantage through knowledge is increased at even more faster rate. Success in this globalized and interconnected economic environment nurtured by fast and efficient sharing of information and knowledge. Sustainable CA is no longer involved in physical assets and financial capital but in effective routing the intellectual capital.

Purpose of the study The purpose of the study is to check the relationship between knowledge management and competitive advantage Research Question Is knowledge management a source of competitive advantage?