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- W2296756253 abstract "In this paper we build on the growing body of research on social capital, reputation, and knowledge management to develop testable propositions with respect to a firm’s board of directors and their use in creating and sustaining a knowledge-based competitive advantage. A firm’s board of directors is a specific and unique group of actors available to knowledge-based firms as embodiments of social capital, providers of reputation, and producers of tacit knowledge. The choice of members of this group is a strategic (because of its inherent idiosyncratic character) choice made by the firm. We argue that a firm’s board potentially offers a signif icant source of social capital that can be leveraged with other strategic and non-strategic assets of the company. In addition, a board’s reputation is a strategic knowledge asset, that can be leveraged via social capital for strategic consequences. Finally, firms that have mechanisms to use their board’s social capital, and leverage it with their employees’ social capital will report better strategic outcomes. Social capital, reputation, and tacit knowledge: Use of board of directors to create and sustain a knowledge-based competitive advantage The role played by knowledge in providing a strategic advantage to firms has been of interest to academics and practitioners alike (Conner & Prahalad, 1996; Grant; 2002; von Krogh & Grand; 2002). In recent years, constructs such as social capital and reputation, where such knowledge may be embedded have aided the development and integration of ideas from other disciplines (such as sociology) into mainstream strategy literature (Adler & Kwon, 2002; Nahapiet & Ghoshal, 1998). We focus our attention on a specific group of actors available to knowledge-based firms as embodiments of social capital, providers of reputation, and producers of tacit knowledge – the firms’ choice of their board of directors. This paper provides a brief description of some of the propositions driving a multi-country empirical investigation into the strategic and financial consequences of firms’ choice of their board of directors. In this paper, we argue that a firm’s board potentially offers a significant source of social capital that can be leveraged with other strategic and non-strategic assets of the company. In addition, board’s reputation is a strategic knowledge-asset, that can be leveraged via social capital for strategic consequences. Finally, firms that have mechanisms to use their board’s social capital, and leverage it with their employees’ social capital will report better strategic outcomes." @default.
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- W2296756253 date "2003-04-13" @default.
- W2296756253 modified "2023-09-27" @default.
- W2296756253 title "Social capital, reputation, and tacit knowledge: Use of board of directors to create and sustain a knowledge-based competitive" @default.
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