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Knowledge and Households

Value Creation through Consumption
  • Chong Ju Choi
  • Carla C. J. M. Millar
  • Caroline Y. L. Wong

Abstract

This chapter seeks to draw a parallel between organizations and households in the areas of knowledge and value creation. We introduce comparisons between firms and households because factors such as the nature of competition, collaboration, community and sharing within households provide examples of effective knowledge and value creation and exchange carried out within an ‘organization’-structured social unit. Our objective is to underpin the view that understanding of organizations can be improved by drawing out the analogy with households, where knowledge and value are created informally and holistically. Not just production can create value in the organization: value creation is also evident in the consumption decisions as they are made in households.

Keywords

Tacit Knowledge Knowledge Creation Knowledge Exchange Moral Community Social Unit 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© C.J. Choi, C.C.J.M. Millar and C.Y.L. Wong 2005

Authors and Affiliations

  • Chong Ju Choi
  • Carla C. J. M. Millar
  • Caroline Y. L. Wong

There are no affiliations available

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