Expertise

A commonplace definition of expertise is the possession or application of authoritative or superior knowledge. In practice, however, expertise is often difficult to identify through objective standards and instead exists as the perception that an individual or organization has a valued ability. Expertise is desired by organizations as a resource that can aid information processing, provide increased confidence in decision making, and bolster a firm’s reputation. Expertise can also be viewed as an exclusive form of knowledge that organizations offer to external stakeholders in the form of professional services or specialized business products. A stakeholder’s perception that an organization has expertise provides confidence in the firm’s abilities and reduces uncertainty regarding the actions of its employees and leaders.

Given the value of expertise, organizations often make ...