Article
Converting knowledge into value Gaining insights from service dominant logic and neuroeconomics
The purpose of this paper is to describe the conversion of knowledge into value by examining the confluence of service-dominant logic (S-D logic), supply chain management (SCM), human resource management (HRM), and neuroeconomics. S-D logic suggests that knowledge is the raw material of value creation. SCM provides an organized foundation to study the conversion of raw materials into value. HRM recognizes the centrality of human decisions in the process of converting knowledge into value. Neuroscience gives insight into the efficiency and effectiveness of the human decisions processes. Global SCM provides more than markets and raw materials – global SCM provides the human resources central to value creation.