R&D Knowledge Is Power

OVERVIEW:The phrase “knowledge is power” may be a cliché, yet in today's business environment it is as true a statement as ever. In fact, knowledge is a unique company resource because its value actually increases when it is shared. Viewing knowledge as a strategic corporate resource, managers need to examine their own organizations to assess the degree of stored knowledge and absorptive capacity necessary to accomplish what is required for sustainable competitive advantage. A key question is whether or not the organizational structure is appropriate—from the perspective of both breadth and depth of knowledge—to the mission at hand. Breadth is obtained through employee diversity and connectedness depth through R&D experience as well as basic research initiatives, partnerships, joint ventures, etc. Overall, knowledge, like other strategic corporate resources, must be actively managed if it is to result in sustainable competitive advantage.