Managing their knowledge assets is an imperative issue for most organizations in pursuit of competitive advantage in the knowledge-based economy. Previous researchers have proposed a number of valuable taxonomies for classifying an organizations knowledge assets. However, once knowledge assets are classified by such taxonomies as a particular type, they do not change type over time. Arguably, however, business contexts are swiftly changing, and knowledge assets may have to be constantly adapted to play new roles, and so a taxonomy capable of reflecting the changing relations between knowledge assets and environmental conditions is needed. This article proposes such a taxonomy which utilizes durability and profitability as dimensions. This taxonomy allows knowledge assets to change type in the light of the new condition. Additionally, it has the characteristics of demonstrating the alignment of assets with organizational strategies, and of being widely applicable in the for-profit sector.
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