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The knowledge economy: emerging organizational forms, missing microfoundations, and key considerations for managing human capital
Author(s) -
Felin Teppo,
Zenger Todd R.,
Tomsik Joshua
Publication year - 2009
Publication title -
human resource management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.888
H-Index - 94
eISSN - 1099-050X
pISSN - 0090-4848
DOI - 10.1002/hrm.20299
Subject(s) - microfoundations , corporate governance , knowledge economy , perspective (graphical) , organizational learning , human capital , knowledge management , business , knowledge transfer , key (lock) , economics , management , market economy , computer science , computer security , artificial intelligence , macroeconomics
In this paper we outline an increasingly predominant, “communal,” perspective of the emerging knowledge economy and explore its emphasis on various nonmarket mechanisms of production. Although the communal perspective suggests organizational forms, governance mechanisms, and knowledge processes that may facilitate knowledge creation and knowledge transfer, we argue that it misses the seemingly contradictory trends of organizational disaggregation and the foundational importance of market mechanisms in knowledge creation. We contrast and partly reconcile these two perspectives of the knowledge economy and highlight key considerations related to the microfoundations of knowledge and human capital management. © 2009 Wiley Periodicals, Inc.