Knowledge Life Cycle, Knowledge Inventory, and Knowledge Acquisition Strategies

55 Pages Posted: 19 Jul 2011

See all articles by Andrew N. K. Chen

Andrew N. K. Chen

University of Kansas

Yuhchang Hwang

Arizona State University (ASU) - School of Accountancy; China Europe International Business School

T. S. Raghu

Arizona State University - W. P. Carey School of Business

Date Written: July 18, 2011

Abstract

For a knowledge and skill centric organization, the process of knowledge management encompasses three important and closely related elements: (i) task assignments, (ii) knowledge acquisition through training, and finally (iii) maintaining proper level of knowledge inventory among the existing workforce. Tradeoff on choices between profit maximization in the short run and agility and flexibility in the long term is a vexing problem in knowledge management. In this study, we examine effects of different training strategies on short-term operational efficiency and long-term workforce flexibility. We address our research objective by developing a computational model for task and training assignment in a dynamic knowledge environment consisting of multiple distinct knowledge dimensions. Overall, we find that organizational slack is an important variable in determining the effectiveness of training strategies. Training strategies focused on the most recent skills are found to be the preferable option in most of the considered scenarios. Interestingly, increased efficiencies in training can actually create preference conflict between employees and the firm. Our findings indicate that firms facing longer knowledge lifecycles, higher slack in workforce capacity and better training efficiencies actually face more difficult challenges in knowledge management.

Keywords: Knowledge Management, Scheduling, Agency, Incompleted Contract

Suggested Citation

Chen, Andrew N. K. and Hwang, Yuhchang and Raghu, T. S., Knowledge Life Cycle, Knowledge Inventory, and Knowledge Acquisition Strategies (July 18, 2011). Available at SSRN: https://ssrn.com/abstract=1888701 or http://dx.doi.org/10.2139/ssrn.1888701

Andrew N. K. Chen (Contact Author)

University of Kansas ( email )

1300 Sunnyside Avenue
Lawrence, KS 66045
United States
785-864-7529 (Phone)

Yuhchang Hwang

Arizona State University (ASU) - School of Accountancy ( email )

Tempe, AZ 85287
United States

China Europe International Business School ( email )

Shanghai-Hongfeng Road
Shanghai 201206
Shanghai 201206
China

T. S. Raghu

Arizona State University - W. P. Carey School of Business ( email )

Farmer Building 440G PO Box 872011
Tempe, AZ 85287
United States

HOME PAGE: http://https://wpcarey.asu.edu/people/profile/192381

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