Abstract
Knowledge acquisition has gained several research areas, such as human resources, marketing, finance, performance, and so forth. It has been acknowledged as an essential path for business success. While firms recognize the importance of knowledge acquisition to enhance business performance, previous literature indicates that SME’s are limited in knowledge acquisition efforts corroborated by the limited research in knowledge sources. For SMEs, knowledge acquisition can be identified as a vital variable as its absence may often hamper the leverage of attaining firm objectives. The frugality of research in discussing the antecedent factors in knowledge acquisition unequivocally, in the Micro, Small and Medium Scale Enterprises is the motivation for the present study. Based on previous studies the study develops a conceptual framework to suggest a relationship between knowledge acquisition and four antecedent factors (domestic knowledge, market knowledge, technological knowledge, and environmental knowledge). A Questionnaire is proposed to collect data and Smart PLS would be used to analyze the data. Conclusion/Recommendations: This study attempts to discuss some of the precursor variables that can affect knowledge acquisition.
Highlights
Micro, small and medium-sized enterprises (MSMEs) and entrepreneurial organizations in the present knowledge-based society face new strategic difficulties(Afriyie, Duo, Appiah, & Musah, 2018)
In the view of Basten and Haamann, (2018), firms need to manage issues of knowledge acquisition and ought to have the option to discover a balance among acquisition and use of knowledge activities, this is corroborated by the work of Ramaiah, (2019); he asserts that knowledge acquisition is an integral part of intellectual growth and innovation
The dimensions domestic knowledge, market knowledge, technological knowledge, environmental knowledge, knowledge emanating from the Knowledge-Based View Theory are selected as antecedent factors that influence knowledge acquisition
Summary
Small and medium-sized enterprises (MSMEs) and entrepreneurial organizations in the present knowledge-based society face new strategic difficulties(Afriyie, Duo, Appiah, & Musah, 2018). The RBV theory is of the view that organizations comprise of both tangible and intangible assets (Barney, 1991) This theory explains how organizational resources, tangible and intangible resources can be exploited by the firm to achieve sustainable competitive advantage. Acquisition to organizational success, perhaps it is worthy to understand the factors that would influence knowledge acquisition in micro, small and medium scale enterprises (MSMEs) which has been shelved. The dimensions domestic knowledge (prior knowledge available to the firm and knowledge gained out of experience), market knowledge (knowledge acquired from customers and competitors), technological knowledge (knowledge acquired through the advent of technology), environmental knowledge (knowledge acquired in response to environmental issues), knowledge emanating from the Knowledge-Based View Theory are selected as antecedent factors that influence knowledge acquisition. This study aims to discuss the influence of antecedent factors i.e., domestic, market, technological and environmental knowledge on knowledge acquisition based on the Knowledge-Based View Theory
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