Exploiting the knowledge is the most critical element for an organization to be successful in a highly competitive world. We are fully aware of the critical tasks involved in managing knowledge. The organization focuses on acquiring knowledge by scanning the internal and external environments; for this purpose, the team uses such frameworks like the SWOT analysis and the PESTLE analysis. While evaluating the potential opportunities, the existing competencies are identified.
Next task is to identify and codify knowledge; there are several types of knowledge, but there is no clear distinction of superiority of any type. The only kinds of differentiation in knowledge at my organization is between explicit and implicit knowledge (Chu & Ritter et al., 2010). All the knowledge regarding the consumer purchasing behavior, sales and revenue that can be easily expressed in graphs and texts is the explicit knowledge. Information like views of consumers, and the resistance by the employees is a form of implicit information that cannot be codified into graphs. But still, the organization lacks experience in identifying the other types of knowledge.
For storing and retrieving knowledge, organization-wide intranet has been formed with an ERP system; the database has been formulated to store all the information and can be retrieved from any employee’s desktop through member login. The system has been fully automated and is regularly updated to ensure full efficiency. The system keeps track of the purchase pattern and converts the data into graphical forms for easier understanding. The information and knowledge are used by the research and development team for the purpose of experimentation.
Sharing and distributing knowledge is effectively done within the organization as continuous development and learning is a part of the company; seminars and workshops are being held consistently, and learning culture is encouraged. All the team is connected to knowledge, and everyone in the team is kept updated on the trends within the market. It helps in connecting the team members and identify the area of expertise individual holds. In addition, the organization also supports cross-functional teams as this help in connecting the people from different areas and share knowledge (Uden & Naaranoja, 2011).
The best aspect is that, with the presence of all these elements in our organization, a major focus is upon innovation, and it is also the key through which the company strives to achieve competitive advantage (Chu & Ritter et al., 2010). The team members make use of all the knowledge in such a manner that their creative skills remain polished, and they keep on innovating in different aspects. Sometimes, it is a product, other times it is the process or any other field.
References
Chu, S., Ritter, W. & Al-Hawamdeh, S. (2010). Managing knowledge for global and collaborative innovations. Singapore: World Scientific Pub. Co.
Uden, L. & Naaranoja, M. (2011). Knowledge management and innovation. Innovative Knowledge Management: Concepts for Organizational Creativity And Collaborative Design, pp. 300--18.
