The adage goes, "Knowledge is power." One can clearly see why this is true for companies. The more the company knows, the better it can compete with its competitors. For instance, if a company learns that their competitor is developing a certain type of product, they can in turn create their own product to compete with the other company's product. This is an example of how knowledge can be a strategic asset.
Companies must use knowledge as a strategic asset if they are to survive in the global economy. Knowledge can help companies get ahead of the competition, perform the job right, and help perform the job in the most efficient manner possible. What you don't know can serve as an advantage to your opponent, which can be all the way across the world. Therefore it is best to be prepared by being knowledgeable, making knowledge systems available to employees, and encourage active use of knowledge systems as a strategic advantage over the competition.
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