Knowledge Management In Underdeveloped Countries (Udcs) And Its Impact On The Competitive Advantage: Assessing The Role Of Innovation Through Monitoring And Control

Abstract

The article focuses on the essential elements that contribute their segment towards triumphing competitive advantage of organizations. The problem of not having a competitive advantage in organizations is the major hindrance concerning the economic evolution and progress in under-developed countries (UDCs). It has been observed that UDCs suffer from lack of monitoring and control in the dimensions related to their knowledge management strategies, which is essential in nature. Therefore, the purpose of this research is to address monitoring and control in knowledge management though a qualitative, descriptive, and non-experimental study, where we carried out survey of 50 firms and assessed accordingly. The findings demonstrate that UDCs’ knowledge management foundations are quite weak, inconsistent and incohesive with the demand of the system and of nature. However, competitive advantage and innovation could be worked upon and obviously can be enhanced, which can further lead towards better productivity of companies. And if the dimensions of knowledge management are handled effectively through monitoring and control, better results show up and thus competitive advantage can be achieved.