Tacit knowledge as a resource

Our results suggest that the generation of tacit knowledge has a significant impact on the competitive advantages of the new ventures who obtained assistance.

CONCLUSION

1. This study showed a causal linkage between source of knowledge (time), use of knowledge (advantage), and value of knowledge (growth).
2. Sustainable competitive advantage depends on knowledge gained by entrepreneur.
3. Outsider assistance can be source of sustainable competitive advantage.
4. Competitive advantage gained from outsider assistance positively related to performance.
5. Assistance and Education programs for would-be entrepreneurs must impart tacit knowledge rather than merely explicit knowledge to have an impact.

?? Counseling > Consulting.

6. Economic Development = Invention + Innovation.

?? Invention = explicit knowledge of scientists.
?? Innovation = tacit knowledge of entrepreneurs.

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OUTSIDER ASSISTANCE AND COMPETITIVE ADVANTAGE IN NEW VENTURES: TACIT KNOWLEDGE AS A RESOURCE

James J. Chrisman and W. Ed McMullan University of Calgary