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