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Expertise and InnovationInformation Technology Strategies in the Financial Services Sector$
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Robin Fincham, James Fleck, Rob Procter, Harry Scarbrough, Margaret Tierney, and Robin Williams

Print publication date: 1995

Print ISBN-13: 9780198289043

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289043.001.0001

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The Dimensions of Expertise

The Dimensions of Expertise

(p.229) 11 The Dimensions of Expertise
Expertise and Innovation

Robin Fincham

James Fleck

Rob Procter

Harry Scarbrough

Margaret Tierney

Robin Williams

Oxford University Press

This chapter discusses the political and economic aspects of expertise and expert knowledge. It explores how knowledge is acquired, distributed, and valued in the financial services sector. It addresses different kinds of non-formal knowledge. The knowledge needed to solve problems is often fragmented between specialist areas, and in many cases boundaries between expert groups have become institutionalized. This complicates the process of reformulating knowledge, and so this chapter considers power — the efforts of groups to claim central status for their knowledge holdings as well as the settings of unequal power within which rivalry occurs. In so far as knowledge is located outside a firm, the work of internal experts can be substituted by external experts, or by the supply of artefacts. Expertise is thus tradeable on labour and product markets, and rivalry between experts may take an economic form. The problems in establishing an appropriate price for technical labour are discussed and the problem of information technology professionals and their relations with general management are examined.

Keywords:   expertise, expert knowledge, power, tradeability, management, financial services, rivalry, technical labour, information technology

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