Entrepreneurship and Knowledge Management : Knowledge Requirements, Utility, Creation, and Competency

The study examines knowledge management in the context of entrepreneurship: in particular, how entrepreneurs utilize and create knowledge, and build on knowledge as a core competency. Scientific research as knowledge type, and its relevance to the entrepreneur, are also investigated. With regards to knowledge creation, entrepreneurs excel at speed, originality and relevance, creativity, and business acumen. They have well-developed knowledge bases, and synthesize a lot of knowledge. Entrepreneurs both push and pull knowledge. The entrepreneur may source and acquire knowledge to advance and close the knowledge gaps of an identified opportunity, or may peruse knowledge in search of opportunity. The study elaborates on the relationship between knowledge and innovation, as well as the relationship between knowledge, creativity, and innovation. Entrepreneurs extensively consume scientific research, particularly to expand their knowledge bases. Similar to knowledge, entrepreneurs both push and pull scientific research. The extent by which they pull scientific research is determined by the extent that their opportunities require it. Entrepreneurs may also look to find application for scientific research as output. In this regard, the quality — measured as relevance — of the scientific research is important. Although presently and practically in shambles, collaboration between entrepreneurs and universities, can unlock further opportunities and value in this regard. Collaboration is much dependent on healthy relationship that permits bidirectional input and feedback