PRIRODA I ULOGA ORGANIZACIONE MUDROSTI U SAVREMENOM POSLOVANJU
NATURE AND ROLE OF ORGANIZATIONAL WISDOMS IN CONTEMPORARY BUSINESS

Summary/Abstract: With the increasing rate of technological change, more demanding customer needs and growing pressure from the competition, companies are increasingly using their resources, or their knowledge. Organizational knowledge management is becoming a key strategic tool in dealing with changes in the environment, as well as a relevant factor of survival and the creation of a competitive advantage on the market. However, some researchers recently noted that the success in the competition is not just related to the account of knowledge available in firms, but to the firm’s ability to take the best use of what it knows, and to know what is strategically most important to it. In this regard, they highlighted the concept of “organizational wisdom,” which is defined as the collection, transference, and integration of individuals’ wisdom and the se of institutional and social processes. The paper is an attempt to make on the basis of theoretical and practical research of relevant experts in this field an overview of the type of knowledge that has been developed so far in organizations, with a particular focus on organizational wisdom, as the highest degree of organization and use of knowledge in the current operating conditions.

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