ADMS 1010 Lecture Notes - Lecture 11: Tacit Knowledge, Explicit Knowledge, Social Entrepreneurship
6 Jan 2017
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Week 11 - business for the future (adms 1010) ^creating new wealth-producing resources, or, endowing existing resources with enhanced potential for creating wealth. ^not age or size, but a certain type of activity -> innovation is at the heart of that activity. ^unexpected successes or failures (i. e. accidents: incongruities. ^incongruities in process; economic realities; expectations/results: process needs. ^solves a problem in process or system: industry and market changes. Outside a company (in the social/intellectual environment: demographic changes. ^demographics = quantifiable statistics of a given population (age distribution, education, occupations, geographic location, etc. : changes in perception. ^does not alter facts, but changes their meaning: new knowledge. Principles of innovation: analysis of the sources of new opportunities, go out, ask, listen: ^figures & people: simple and focused, start small. ^tacit = understood or implied without being stated. ^combine discrete pieces of explicit knowledge into new whole. ^new explicit knowledge shared, internalized by other employees.
