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date: 22 September 2020

Abstract and Keywords

During the early part of the 1990s, a number of ideas and streams of research converged to produce what has come to be described as ‘the knowledge-based view of the firm’. The outcome is not so much a new theory of the firm, as a number of explorations into aspects of the firm (and economic institutions more generally) which are unified by their focus upon the role of knowledge in production and exchange. Valuable contributions have been made to the analysis of creativity, learning, new product development, inter-firm collaboration, knowledge transfer, knowledge-based competition, and many other areas. This article tries to draw together some of these themes in order to identify the key elements of the knowledge-based approach to the firm and some of the implications of this approach.

Keywords: knowledge-based view, economic institutions, production and exchange, learning, new product development, inter-firm collaboration

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