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Absorptive Capacity (ACAP) helps firms acquire, assimilate, and utilise new knowledge. Drawing on crucial managerial perspectives, this study employs a Partial Least Squares-Structural Equation Model (PLS-SEM) to scrutinise the various dimensions of ACAP (e.g. routines versus extra work, organisational culture, leadership, and the trustworthiness of knowledge sources) concerning market knowledge and knowledge creation outcomes (e.g. knowledge creation activities and firm's private knowledge) among small and medium enterprises (SMEs) in Thailand. The findings indicate that all dimensions, with the exception of extra work, contribute significantly to the augmentation of firm-specific knowledge. However, only routines and knowledge-oriented leadership demonstrate a positive association with knowledge-creation activities. The results suggested that managers and top executives of SMEs should emphasise non-financial rewards more, create knowledge learning routines, and support the learning culture to enhance the ACAP for market knowledge. [ABSTRACT FROM AUTHOR]

Customer knowledge is one of the most noteworthy assets for firms to manage in order to improve their products and gain competitive advantage while meeting the customer needs. Customer knowledge management (CKM) arises when firms see the significance of customers as a source of firm's knowledge. More importantly, customers alter from passive product receiver into active knowledge partners and generate co‐created knowledge with firms. However, despite the popularity of promoting entrepreneurship and small and medium enterprises (SMEs) for economic development, research studies, examining CKM in the context of SMEs, are relatively small and diverse. In this paper, the authors discuss the concept of CKM from a comprehensive literature review as well as other related concepts that are anticipated to have relationships with CKM in SMEs, namely knowledge‐oriented leadership (KOL), trust in management, and firm performance. A thorough analysis of past research confirms that the existing literature in this area is highly fragmented. By integrating the main findings of relevant research streams, a detailed overview of the literature on CKM in the context of SMEs is established, and a research agenda is set up. [ABSTRACT FROM AUTHOR]