Abstract

Purpose of the article: Knowledge is increasingly importance for the economic well-being of businesses. Core competencies of management are the generation and processing of information, used to develop a competitive advantage. Information has become established as a commodity in its own right which can be bought and sold. Four out of five goods traded on the market now consist of services or relate to information in the broadest sense. Knowledge is created when different pieces of information are linked on the basis of a particular intellectual background and meaningfully interpreted. Accordingly, knowledge incorporates not just information but also experience, - judgements, rules of thumb and worldviews. Knowledge is always associated with human beings. Methodology/methods: This article is based on literature research. The original article was written in German and translated into English, supported by a translation agency. Scientific aim: A questionnaire is being drawn up on the basis of the research results. This will allow the appraisal of these influencing factors and framework conditions by small and medium sized enterprises to be surveyed and evaluated. Findings: Social systems arise through and are sustained by communication. Actions of managers primarily consist of communication. For cognitive simplification, all humans repeat actions that have previously proved successful. Previously accumulated knowledge thus becomes a significant barrier to learning. An organisation’s ability to learn depends not only the general willingness of its workforce to learn but also on the newness and/or compatibility of knowledge acquired from a partner. Conclusions : Developing or acquiring competition-relevant knowledge is generally time-consuming and costly. As a complementary function to knowledge acquisition, the retention of knowledge carriers in the form of people and materials forms another component of knowledge management. It is important to recognise early on those knowledge carriers who promise high potential in the future.