There continues to be much interest in the business and academic communities in the concept of strategic competencies or core capabilities, in other words, how organisations define and differentiate themselves. More recently, this movement has fragmented into a number of related fields with subtle differences in focus: knowledge management — how organisations identify, share and exploit their internal competencies, in particular the knowledge of individuals; organisational learning — the relationship between individual and organisational knowledge and how organisations 'unlearn' past competencies and acquire new competencies; strategic management — how competencies can be assessed, and how these contribute to performance; and innovation management — how such competencies are translated into new processes, products and services. This book attempts to integrate strategic and knowledge management approaches to capability-building and the development of competencies. The third edition is fully updated with five additional chapters by bringing together the latest research and practices from experts in the field.In addition, this book is a core text for the Imperial College London's Distance Learning MBA, and contains essential readings for students enrolled in this programme.