Innovation Driven Knowledge Management

Currently, man organizations are focused on knowledge management because of its benefits. Discipline and organization must be used if you want KM to be successful. Sometimes, according to an article on KMTALK ASIA, we get caught up with all of the organization and lose sight of our end goal. The end goal is innovate and create value, and seeing the bigger picture can really help out your organization:

Knowledge is a raw product and organizations need to use it to deliver new services, products=value. Therefore, the role of knowledge management cannot be just- reducing mistakes, sharing best practices etc. but to create new ‘value’ for the organization. If we miss the ‘innovation’ component of the knowledge management model, we will fail to justify the existence of the latter. While having a chat with Graime, an innovation consultant for 20 years, we argued if the notion of ‘knowledge economy’ ever worked. Graime said, Malaysia promoted the concept of the knowledge economy for a while and then realized ‘knowledge’ itself cannot deliver economic growth.

Basically, KM needs to be treated as an asset. Simply paying lip service to the idea of a proper KM system will get your organization absolutely nowhere. The article champions the idea of “knowledge in action.” In other words, if your knowledge is not doing anything to benefit your company, why do you have it? It is not enough to simply have KM if you are not using it properly.

The article suggests looking at KM with a different perspective. In addition to KM’s old job as an information portal that captures knowledge, we must remember that it can also drive innovation, understand market trends, and aid in analysis. Of course, KM needs to be firmly integrated into a company before some of these benefits become apparent, but with collaboration, communication, and understanding, KM could do more for your organization than you thought possible.

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