Final answer:
Organisational learning is essential for sustaining competitive advantage in business, entailing continuous knowledge acquisition and adaptability. It is a collective effort that leads to operational improvements and evolution of comparative advantages over time, ensuring long-term sustainability.
Step-by-step explanation:
The principles of organisational learning involve understanding that the ability to learn and adapt is central to maintaining responsible competitiveness in a business environment. This learning is not just a one-time event but an ongoing process, where the organization continuously seeks to improve and refine its operations, strategies, and products based on new knowledge and experiences.
Organisational learning is driven by the collective effort of its members to understand complex issues, adapt to environmental changes, and improve processes. Knowledge acquisition, information distribution, information interpretation, and organizational memory are key aspects of this process. Firms must engage in specific learning about specialized products, utilizing economies of scale and developing new skills, allowing comparative advantages to evolve over time.
As supported by the enduring understanding that competition and cooperation are important aspects of biological systems, in business too, adaptability is essential for long-term sustainability. Dynamic comparative advantages require continuous learning and flexibility, as market conditions and global trade landscapes change.
The complete question is: Sources of responsible competitiveness will alter over time and the ability to learn and adapt is arguably the only sustainable source of responsible competitiveness.
Explain the principles of organisational learning is: