![]() ![]() ![]() Third, mediating artefacts, which represent existing knowledge but also facilitate the translation and transformation of understanding within and between communities of practice. Second, absorptive capacity, which describes the way in which organizational members identify, acquire and utilize knowledge from external sources. We highlight three concepts central to the creation of strategic space, first, social capital, which refers to the network relationships that provide access to a wide range of resources and information. The starting point is the owner-manager's human capital and their capacity to engage in critical reflection about their business. The term ‘strategic space’ refers to the process by which owner-managers are able to access resources, motivation and capability to review existing practices. The authors focus on the way in which owner-managers in smaller firms improve their businesses through the creation of ‘strategic space’. ![]()
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