The concept of knowledge as an asset and resource has been examined in this book from a much broader perspective than is traditional in knowledge management. This gives overdue recognition to the intrinsic nature of knowledge, which in itself is complex, and to the different and extensive contexts in which knowledge is entrenched or present. For example, the tacit nature of knowledge, its intangibility and inalienability require a different framework of analysis in terms of knowledge exchange and measurement. This framework, which has been extensively discussed in Chapter 5, builds on the works of North (1990) and raises the important point of measurement and enforcement costs.
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