Knowledge-based approaches to the firm: an idea-driven perspective

Abstract The challenges of the 21st century imply reconsidering the knowledge-based approaches of the firm under idea-led perspectives. We propose to reexamine the limits of the knowledge-based approaches of the firm by integrating the management of ideas as a process into the analysis. Building on the differences between the notions of idea and knowledge, we reconsider in turn the raison d’être, boundaries, coordination and incentive mechanisms, and the role of the entrepreneur of the firm. We show that ideas as a process are central to a more actor-inclusive view of the firm, providing a more relevant explanation of how firms can create value and fit into the contemporary world.