... able to satisfy a customer needs more effectively than their competitors. A company can create competitive advantage in several areas of business like delivery, service, product design, packaging and innovation. In addition we are going to analyse what knowledge is. Nonaka makes three observations about their relation. First of all, knowledge is about beliefs and commitment - it is part of a perspective on an issue. Secondly, knowledge is about action, it can drive an individual or an organisation somewhere. Lastly, both knowledge and information are about meaning. They are within a context and in relation to an issue. Knowledge can be seen as " a dynamic human process of justifying personal belief toward the truth" (Nonaka 1995 p 58). It is both "explicit" position and tacit "perspective". The process of knowledge creation is one of particular importance, as it is where tacit and explicit knowledge interacts. It is still ...

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