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Knowledge CapitalismBusiness, Work, and Learning in the New Economy$
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Alan Burton-Jones

Print publication date: 1999

Print ISBN-13: 9780198296225

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198296225.001.0001

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Redefining the Firm

Redefining the Firm

Chapter:
(p.150) (p.151) Chapter 8 Redefining the Firm
Source:
Knowledge Capitalism
Author(s):

Alan Burton-Jones

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780198296225.003.0008

In the simultaneous occurrences of the internalization of core functions and the externalization of non-core functions, the firm is being redefined in terms of its size, functions, organization, management, incentives, and reward systems. As a firm begins to concentrate more on knowledge assets, it also improves its ability to innovate, produce, market, and deliver. This chapter presents how the firm shrinks as its intellectual value grows. Also, in line with the changes in the volume of employees and processes, firms have opted to use performance-based incentives and promotion as an incentive. This chapter also introduces the six stages of the Knowledge Growth ModelTM as a tool for the assessment of a firm's progress, strengths, weaknesses, and other attributes that may affect the firm's performance.

Keywords:   firm, internalization, externalization, size, functions, organization, management, incentives, reward system, Knowledge Growth Model TM

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