creating tools were ignored by western managers. Dr. Nonaka categorized knowledge into tacit knowledge and explicit knowledge. He addressed the importance of using tacit knowledge as powerful tool to generate new knowledge. According to surveys (Ramirez et al., 1991, Trahan and Gitman, 1995, Davies, 1996) indicated western managers were more likely to adopted value based management approach. Koller (1994) argued value is created only when companies investment have return. Anthony et al. (1980) concluded…
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