Knowledge Acquisition and Its Influence on Organizational Learning and Innovation

Abstract

Knowledge acquisition is paramount in the rapidly evolving fields of nanotechnology, artificial intelligence (AI), big data, robotics, genetic editing, human organ printing, digital surgery, and cryptocurrency. This paper explores the significance of knowledge acquisition and its impact on organizational learning and innovation that pertains to the petrochemical industry, with the Fourth Industrial Revolution (4IR) being so significant. The active and strategic acquisition of knowledge by organizational think-forces is vital for maintaining sustainability and competitiveness. Despite some businesses perceiving innovation as a temporary trend, evidence suggests that innovation is not a fad but a necessary component for survival in global markets. This research conducts a comparative analysis to position the petrochemical industry against global standards, emphasizing the ongoing need for advancements in learning and innovation. The findings suggest that there remains significant work to be done in fostering innovation and learning within the industry.