Question

In: Other

What are the Aspects of knowledge management, continuous innovation, and competitive advantage and how they integrate with one another?

What are the Aspects of knowledge management, continuous innovation, and competitive advantage and how they integrate with one another?

 

 

Solutions

Expert Solution

In the past years, there has been an increased recognition that an organization's competitive advantage depends on its ability to create, utilize, protect as well as the transfer of knowledge to real application. The dominant logic of the modern competitive markets requires organizations to clearly understand how to break learning barriers and effectively comprehending the Information Technology era (Reese &Sidani, 2018). While most have been able to deduce effective solutions to corporate structures and internal processes, a significant number of firms have failed to effectively manage knowledge, establish continuous innovation and implement aspects to shape their competitive advantages. Knowledge creation in an organization is due to organizational leaning via strategic processes. Key aspects of knowledge management include the company's ability to create new processes of operations, disseminate such skills throughout the organization (Onivehu et al. 2018).

 

Various aspects of knowledge management, continuous innovation, and competitive advantage have been identified. These include cultural and social history, problem-solving modes, orientation to risks and uncertainties, worldview organizing principles and horizons of expectations. Cultural and social history entails how the organization's IT department and other departments tap into important emerging technologies into use. Problem-solving modes involve individual reflective practices that assist in determining how specific technologies can be useful and how they can be applied. Orientation to risks and uncertainties entails a clear understanding of risks and uncertainties brought about by technology. Organizations must understand that not all new technologies are valid. Worldview organizing principles entails mixing effective technologies and cultures, which requires tacit knowledge to understand existing dispositions on how others work together. All these aspects of knowledge management, continuous innovation, and competitive advantage interact with one another to foster growth, development, and success in organization. Effective knowledge management and continuous innovation are all competitive advantages to an organization, they improve the ability to perform and compete with other companies (Altınay, Dagli, &Altınay, 2016).


Related Solutions

1) How does information and knowledge management link to competitive advantage? Discuss the reasons why or...
1) How does information and knowledge management link to competitive advantage? Discuss the reasons why or why not a dominant firm might or might not consider attacking smaller competitors to increase market share? 2) Companies have to update their strategy on a regular basis but sometimes need to look at radical change, briefly explain these two types of Strategic Change and how they might affect company organization. Define incremental and transformational change. enter academic citations.
How does information and knowledge management link to competitive advantage? Discuss the reasons why or why...
How does information and knowledge management link to competitive advantage? Discuss the reasons why or why not a dominant firm might or might not consider attacking smaller competitors to increase market share?
knowledge management systems are at the core of innovation and business process improvement. The knowledge management...
knowledge management systems are at the core of innovation and business process improvement. The knowledge management value chain, is the entire set of business processes developed in an organization to create, store, transfer, and apply knowledge assets. What knowledge management product did YouTube choose? What major challenges did they face during the implementation? If you were in charge of this project, what recommendations or actions would you have taken to improve the outcome?
-What is the competitive advantage of Detroit Bikes? Brand? Low-cost? Innovation? Niche? Diversification? Please explain. How...
-What is the competitive advantage of Detroit Bikes? Brand? Low-cost? Innovation? Niche? Diversification? Please explain. How would you characterize their target market and brand? -Noting all we have discussed in the course this far, what would you suggest is the best strategy to grow the business? What are the opportunities and risks with this growth strategy?
Although innovation is vital to giving companies a competitive advantage, it will only be successful if...
Although innovation is vital to giving companies a competitive advantage, it will only be successful if it is measured effectively. I agree that one of the biggest benefits to innovation measurement is that it allows the company to maintain a certain pace with their innovation initiatives. Often times, companies find themselves only innovating when they remember to, resulting in innovation projects being started years apart, or they do the opposite and start too many innovations at once. By measuring innovation...
How sustainable was Yahoo’s competitive advantage? What would you do to attain sustainable competitive advantage?
How sustainable was Yahoo’s competitive advantage? What would you do to attain sustainable competitive advantage?
• Define "knowledge management". Define "ignorance management".What role does each play in advancing innovation strategies?
• Define "knowledge management". Define "ignorance management". What role does each play in advancing innovation strategies?
Knowledge Management has become a crucial component of a competitive organization and this argues that knowledge...
Knowledge Management has become a crucial component of a competitive organization and this argues that knowledge is a mark of civilization and has been discussed, disputed and managed in most spheres of human activity for all of history Discuss and give your opinion NOT LESS THAN 5 lines
What is the difference between competitive advantage and comparative advantage? How does each influence what a...
What is the difference between competitive advantage and comparative advantage? How does each influence what a country produces, what it exports and imports? What happens if one country (or person) has an absolute advantage in production of all products or services? Does that mean there are no gains from trade? Explain.
a. what is the firm's competitive advantage of Campbell list it down one by one? b....
a. what is the firm's competitive advantage of Campbell list it down one by one? b. Provide a brief justification of each one.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT