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Knowledge CapitalismBusiness, Work, and Learning in the New Economy$
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Alan Burton-Jones

Print publication date: 1999

Print ISBN-13: 9780198296225

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198296225.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 14 May 2021

Redefining the Firm

Redefining the Firm

(p.150) (p.151) Chapter 8 Redefining the Firm
Knowledge Capitalism

Alan Burton-Jones

Oxford University Press

In the simultaneous occurrences of the internalization of core functions and the externalization of non-core functions, the firm is being redefined in terms of its size, functions, organization, management, incentives, and reward systems. As a firm begins to concentrate more on knowledge assets, it also improves its ability to innovate, produce, market, and deliver. This chapter presents how the firm shrinks as its intellectual value grows. Also, in line with the changes in the volume of employees and processes, firms have opted to use performance-based incentives and promotion as an incentive. This chapter also introduces the six stages of the Knowledge Growth ModelTM as a tool for the assessment of a firm's progress, strengths, weaknesses, and other attributes that may affect the firm's performance.

Keywords:   firm, internalization, externalization, size, functions, organization, management, incentives, reward system, Knowledge Growth Model TM

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