Knowledge Creation and Social Networks in the Built Environment
||Farshchi, Mahtab Akhavan; Mark Brown
||Knowledge Creation and Social Networks in the Built Environment
||14th Annual European Real Estate Society Conference in London, UK
||Knowledge resides in many teams/parties who are involved in the creation or production process. Large engineering organisations within the industry play an important role for their contribution to innovation and creation of new knowledge. Firms driven by the desire to earn economic rent are motivated to devise effective strategies which enable them to increase their profitability as well as market share. “Corporate entrepreneurs face a unique challenge in the development of opportunities with established firms…they should take advantage of existing capabilities as well as stretch the organisation beyond the boundaries of its core competences” (Floyd and Wooldridge, 1999). Sharing of knowledge can help reduce uncertainty arising form random acts of nature and unpredictable changes in consumer’s preferences (Buckley and Carter, 2003). How companies generate knowledge and how they implement it through process reflects the tension between countervailing forces that, “on the one hand, spark inventions, and on the other, introduce the structure that transforms those inventions into marketable products” (Brown and Duguid, 2001). In this paper we offer the results of a study on the role of social networks in the creation of knowledge in the built environment. Our methodology enables us to reveal the structure and strength of organisational internal communication links and their role in the exchange, sharing and accumulation of knowledge in a built environment consultancy company. Using a social network analysis framework we demonstrate the extent of the inter and intra organisational knowledge exchange and their importance in the knowledge creation processes.
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||Session E8: Professional Experts and the Real Estate Market
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