Managers trying to gauge the impact of applying external knowledge sources to their firms’ innovations can draw on an existing body of research to help them in their task. However, there is very little research to help those same managers determine how that knowledge will impact their firm’s performance. The difficulty of measuring this impact represents a particular challenge for managers, as many today believe that the acquisition and application of knowledge from external sources will clearly have a positive impact on firm performance.
The intersection of external knowledge, firm strategy and performance
Reprint from Ivey Business Journal
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