A new paradigm for knowledge-based competition: Building an industry through knowledge sharing

A common assumption in traditional strategic management thinking is that competitive success may be achieved by the creation and protection of firm-specific factors, either favourable market positions, as in industrial organization-based frameworks, or unique resources, such as intellectual property and tacit knowledge, as in resource-based frameworks. This paper long-term trends in technology, industries and society, this paradigm is no longer appropriate for modern knowledge-based industries, particularly emerging high-technology industries. In these industries technologies and firms are increasingly interconnected in a complex web of interactions, and the main task of strategic management is one of managing technological and industry co-evolution. Complexity theory is used to identify mechanisms and strategies for creating sustainable technological communities and industries.