1 Take an organisation with which you are familiar and identify its areas of explicit and tacit knowledge. To what extent, if at all, does the process assist in identifying the sustainable competitive advantage of the company?

2. In what ways might a company like Nike use a ‘knowledge audit' as part of its strategy development process? What are the problems with this approach? Would you recommend it?

3. ‘In an economy where the only certainty is uncertainty, one sure source of lasting competitive advantage is knowledge.' (Ikijuro Nonaka) Do you agree with Nonaka about the unique importance of knowledge?