20（）

A. New knowledge is integrated with existing knowledge to develop unique insights and create even more valuable knowledge.
B. The broadest value proposition, then, for engaging in knowledge management is that it can enhance the organization’s fundamental ability to compete.
C. Unlike traditional physical goods that are consumed as they are used (providing decreasing returns over time), knowledge provides increasing returns as it is used.
D. Knowledge-based competitive advantage is also sustainable because the more a firm already knows, the more it can learn.
E. Companies having superior knowledge, however, are able to coordinate and combine their traditional resources and capabilities in new and distinctive ways, providing more value for their customers than can their competitors.
F. As a competitive advantage, knowledge may generate more value for the company if it is appropriately used.
G. Knowledge -- especially context-specific, tacit knowledge embedded in complex organizational routines and developed from experience-tends to be unique, and difficult to imitate.

A．the expressions used.
B．the explanations given by the chairman.
C．the performance of the company during the year.
D．the company’s future described by the chairman.

A．contraction
B．depression
C．deduction
D．deflation