The 's Knowledge Conversion Theory

1199 Words5 Pages
Majority of today’s economies are characterized by increasing unpredictability. These uncertainties often lead to chaos in organizations that fail to plan for various eventualities. The uncertainties manifest themselves in market shifts leading to technology proliferation, increased competition. In some cases, key products may become obsolete thereby translating into enormous loses. It is essential to note that only those organizations that emphasize an investment in knowledge creation thrive under such circumstances. Consistent innovation is, therefore, the key to guaranteed profitable ventures in any organization’s future. Business leaders from all around the world adopt different approaches towards knowledge. The Japanese approach for instance emphasizes the significance of making use of tacit knowledge of individual employees for the benefit of the company as a whole. Nonaka’s knowledge conversion theory is largely inspired by the experience of Japanese firms (McLean n.d). This paper explores the theory and evaluates its significance as far as universal applicability is concerned.
Nonaka’s Knowledge Conversion Theory Nonaka’s knowledge conversion theory appreciates the fact that today’s society is enormously dependent on knowledge. In other words, knowledge has become considerably significant in many contemporary societies. As a result of this, there is an urgent need for a shift in thinking as far as innovation in large corporations is concerned (Nonaka 1994). The
Get Access