ADMS 1010 Lecture Notes - Lecture 11: Knowledge Economy, New Economy, Tacit Knowledge

• School: York University
• Department: Administrative Studies
• Course: ADMS 1010
• Professor: Alex Browning

Document Summary

Teams can also be the source of innovation. Innovations w/in a company: unexpected outcome post it notes (looking for stronger adhesive but found post it notes, process needs. Industry and market changes uber replacing taxi or fax machines replaced by the internet. Innovations from outside of the company: demographic changes example: aging baby-boomers, changes in perception example: aging baby boomers living longer, new knowledge example: artificial intelligence. Principles of innovations: analyze sources of innovation, go out, ask, and listen: ask who? potential consumers: Figures & people: simple and focused, start small. Hard (quantifiable) data, codified procedures, universal principles. Tacit = understood or implied without being stated. Highly personal, difficult to formalize & communicate. Technical dimension: master-(cid:272)raftsperso(cid:374)(cid:859)s i(cid:374)for(cid:373)al e(cid:454)perie(cid:374)(cid:272)e a(cid:374)d (cid:862)k(cid:374)o(cid:449)-ho(cid:449)(cid:863) (cid:862)easter(cid:374)(cid:863) orie(cid:374)tatio(cid:374) K(cid:374)o(cid:449)ledge has (cid:448)alue, this is (cid:449)h(cid:455) orga(cid:374)izatio(cid:374)s do (cid:374)ot (cid:449)a(cid:374)t to share it (cid:271)e(cid:272)ause people do(cid:374)(cid:859)t (cid:449)a(cid:374)t others to be as smart as them. Combine discrete pieces of explicit knowledge into new whole.