Assessing the Effect of Knowledge Acquisition on Competitive Advantage: A Knowledge-Based and Resource-Based Study

The sustainability of competitive advantage is known to be influenced by knowledge-based threats like imitation, substitution, hold-up and slack.  Strategic management researchers have relied on the “resource-based view” and the “knowledge-based view” to explain how to avoid these threats since tangible/intangible assets and intangible capabilities contribute to the achievement of competitive advantage. This reasoning has further given rise to the question “why do some firm’s outperform others?” Thus, owing to the increase in the employment of knowledge workers, the use of Information and Communication Technology (ICT) in service delivery, and the upsurge in the number of hotels in the hospitality industry in Benue State, this study assessed the relationship between knowledge acquisition and competitive advantage. The study adopted ex-post-facto research design and multi-stage sampling technique to select the elements that completed the questionnaire from the population of employees of the selected hotels. The validity and reliability of the questionnaire was confirmed using Kaiser-Mayer-Olin (KMO), Bartlett and Cronbach alpha tests.  Linear regression statistical method was employed to test the research hypothesis. It was found that knowledge acquisition is significantly related to competitive advantage.  In view of this, hoteliers and hotel managers should employ ICT systems, skilled knowledge workers and all other relevant knowledge management resources that will further help to enhance knowledge acquisition. At every point in time, efforts should be made to acquire modern and latest systems and to improve employees’ skills through training and retraining. Again, a cordial relationship between employees/managers and customers/the general public should be encouraged to ensure free flow of relevant information/knowledge from the customers/public to the organization. Keywords: Knowledge acquisition, Competitive advantage, Knowledge-based view, Resource-based vie

Impact of Business Environmental Scanning Behaviour on the Entrepreneurial Performance of Micropreneurs: A Conceptual Framework

Today, business enterprises are generally immersed in a competitive and constantly changing environment. Research has shown that one way through which micropreneurs learn about the environment is Business Environmental Scanning (BES). However, most studies in BES behaviour [i.e., Degree of Interest (DOI) and Frequency of Scanning (FOS)] seem to have focused more on the medium sized and large enterprises, thereby neglecting the microenterprises. More so, it has been established that changes in the environment cause more uncertainties in microenterprises than in the medium sized and large enterprises. These changes ultimately affect the BES behaviour and Entrepreneurial Performance (ENP) of the microenterprises. This effect is influenced by the Entrepreneur and Enterprise Characteristics (IEC/ETC). Thus, this study reviewed extant literature to develop a framework with the following propositions: degree of interest is positively related to entrepreneurial performance; frequency of scanning is positively related to entrepreneurial performance; the relationship between the degree of interest and entrepreneurial performance is moderated by individual entrepreneur characteristics; the relationship between frequency of scanning and entrepreneurial performance is moderated by individual entrepreneur characteristics; the relationship between the degree of interest and entrepreneurial performance is moderated by enterprise characteristics; and the relationship between the frequency of scanning and entrepreneurial performance is moderated by enterprise characteristics. Micropreneurs can thus enhance their ENP by increasing their DOI/FOS and improving on their IEC/ETC. Again, empirical studies using this conceptual framework are suggested so as to validate the propositions and their generalization. Keywords: Individual entrepreneur characteristics, Enterprise characteristics, BES behaviour, Entrepreneurial performanc