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Investigates organizational knowledge strategies in Spanish industry; using survey questionnaire covering: organizational knowledge management, organizational learning and performance. Applies Bierly and Chakrabarty’s typology of generic knowledge strategies to perform cluster analysis and classify firms. Implications for strategy emerge: each firm owns a specific bundle of resources forming organizational capabilities; uniqueness nature is outcome of different organizational decisions. Knowledge strategies determine stocks and flows of organizational knowledge and competitive advantage of firms. Decisions involving trade‐offs between knowledge exploitation or exploration, internal or external knowledge, breadth of knowledge base, etc. should be made to configure the best strategy. Results show organizational performance varies across clusters. Knowledge strategy should be integrated among strategic decisions to get good organizational fit.

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