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This paper presents a practical methodology for developing a process‐based knowledge management system (KMS) for supporting continuous improvement (CI) and asset management.

An action research methodology was used to develop a KMS to support CI in a manufacturing company. The KMS is evaluated through application in the case study company. This methodology ensures a consistent approach to carrying out all improvement initiatives. The final part of the methodology addresses the construction of an intranet‐based knowledge warehouse. This contains several searchable areas such as existing information on assets, new knowledge generated from projects, details of expertise in the business and links to the key business drivers through the corporate intranet.

The KMS is shown to support CI initiatives through the utilization of available data already held within the company's management databases (production, quality and maintenance) including consideration of corporate strategic plans. Process models trigger the application of improvement tools and projects in a true CI environment.

This methodology acknowledges both tacit and explicit knowledge within the company, and it represents an appropriate environment to promote and develop a true learning organization.

The system developed is shown to be flexible and has been implemented in a manufacturing environment. Financial benefits are presented.

The approach used is novel and integrates several areas of IT and process improvement techniques. The resulting methodology is applicable to large and small companies without requiring major IT support facilities. The methodology supports the development of true learning organizations.

THE New Year should be one of much progress in the organization of Librarianship. We wish our readers all the pleasure and prosperity that may come from increasing activity and growing public esteem. Every year we are able to record some progress in the general estimate in which the work of libraries is held; we have not reached, and do not even approximate, to the efficiency and perfect service that we desire to attain and to render; but we believe that the library movement is on the right road.

In recent years, the concept of “reification” has virtually disappeared from debates in social theory, including critical social theory. The concept was at the center of the revitalization of Marxist theory in the early twentieth century generally known as Western Marxism. Georg Lukács in particular introduced the concept to express how the process described in Marx's critique of alienation and commodification could be grasped more effectively by combining it with Max Weber's theory of rationalization (see Agger, 1979; Stedman Jones et al., 1977).¹ In Lukács's use, the concept of reification captured the process by which advanced capitalist production, as opposed to earlier stages of capitalist development, assimilated processes of social, cultural, and political production and reproduction to the dynamic imperatives and logic of capitalist accumulation. It is not just interpersonal relations and forms of organization constituting the capitalist production process that are being refashioned along the lines of one specific definition of economic necessity. In addition, and more consequentially, the capitalist mode of production also assimilates to its specific requirements the ways in which human beings think the world. As a result, the continuous expansion and perfection of capitalist production and its control over the work environment impoverishes concrete social, political, and cultural forms of coexistence and cooperation, and it brings about an impoverishment of our ability to conceive of reality from a variety of social, political, and philosophical viewpoints.

In this chapter, we develop a conceptual framework on how cultural value can be lost in conflict and created by the arts, artists and arts organisations again and how the arts may also help victims of conflict. We explore examples of the different ways that the effects of cultural engagement are manifested and articulated in the depiction of armed conflict, especially looking at the civil war in Syria (2011–present as of 2020) and discuss three stages in the life-cycle of cultural value. Our conceptual framework of cultural value in the depiction of armed conflict is based on the multifaceted private, public, intrinsic and instrumental benefits of the arts as well as the cultural value created by arts, artists and arts organisations. We discuss universal value at the first stage of a potential loss of cultural value. The second stage addresses the politics of aesthetic value, as the cultural value created by artists and artistic activities which may evolve during armed conflict with examples of two international war artists, John Keane and Ben Quilty. Finally, we review social value as the impact of the cultural value created in overcoming armed conflict as well as restoring and transforming impaired individuals, communities and societies. Within this context, we reinforce the notion of cultural value as an alternative framework for understanding the value constructs surrounding the creation of art in this chapter.

Entrepreneurial ecosystems have become policy strategies to stimulate entrepreneurial activities, yet the current understanding underlying value creation and the factors influencing this value-capturing mechanism remains limited. In this chapter, we systematically review literature related to the entrepreneurial ecosystem, and we seek to provide a greater understanding of the value creation process within an ecosystem. The findings from our content analysis shed light on the multifaceted structures and drivers of the value creation process. The study contributes to studies and theory development in the field of entrepreneurial ecosystem literature and further advances potential future research.

The London Interbank Offered Rate (LIBOR) is considered to be the most important interest rate in finance upon which trillions in financial contracts are decided. In 2008, it was revealed that the LIBOR traders were rigging the interest rates. Yet, there is an unresolved question that regulators and banking officials did not address in their quest to seek answers to the fraud: Were the banks under financial strain when they underreported their LIBOR rates? To answer this question, the article posits that the pressure to meet market expectations led the banks to experience financial strain. Data were gathered from 2004 to 2008 on the banks that were involved in the fraud (fraud banks) and matched with a control group of non-fraud banks. The results from a logistic regression model found sufficient statistical evidence to support the claim that fraud will be greater in banks characterized by a higher level of organizational complexity. Variables such as percent of outside directors, board members on the audit committee, and number of employees were all found to be statistically significant. These variables may offer key insights into detecting and preventing frauds in banks.

How can managers reduce information asymmetry in dyadic manager-external stakeholder relationships in a complex and evolving environment? Addressing this question has significant implications for firm survival, growth, and competitive advantage.

We have adopted a multiparadigm approach to theory building, known as metatriangulation. We integrate the dynamic capabilities, sensemaking, and evolutionary theory literatures to theorize how managers can relate to stakeholders in a complex and evolving environment.

We propose, via a conceptual framework and three propositions, “evolutionary sensemaking” as the managerial metacognitive dynamic capability that helps managers hone their understanding based on the evolutionary changes in the stakeholder’s interpretations of information quality preferences. The framework unfolds across three evolutionary stages: sensing preferences' variation of the stakeholder, seizing preferences, and transforming for complexity alignment and retention. The propositions focus on managing complexity in stakeholder information quality preference, employing cognitive capabilities to simplify, interpret, and align interpretations for effective information asymmetry reduction.

To develop the metacognitive dynamic capability of evolutionary sensemaking, managers need to train for and foster the underlying complex cognitive capabilities by enhancing their (1) perception and attention skills, (2) problem-solving and reasoning skills, and (3) language, communication, and social cognition skills, focusing specifically on reducing the complexity embedded in stakeholder cognition and diverse stakeholder preferences for information quality. Contrary to the current advice to “keep things simple” and provide “more” information to the stakeholders for opportunism reduction, trust-building, and superior governance, our framework suggests that managers hone their cognitive capabilities by learning to deal with the underlying complexity.

The proposed framework and propositions address research gaps in reducing information asymmetry. It enriches the dynamic capabilities literature by recognizing complexity (as opposed to opportunism) as an alternative source of information asymmetry, which needs to be addressed in this stream of research. It extends the sensemaking literature by identifying the complexity sources – i.e. stakeholder preferences for diverse information quality attributes and the associated cognitive preference interpretation processes. The article enhances evolutionary theory by delving into microprocesses related to information asymmetry reduction, which the existing literature does not thoroughly investigate.