Knowledge Management in Technology-oriented Organizations



Abstract

Innovation has become the core of organizations in this rapidly changing business environment of today. This fast change of speed of innovation has immensely impacted the nature of global economic development, technological advancements, shorter product lifecycles and a higher rate of new product or new market developments. The complication of innovation has been improved by growth by the sum of knowledge that is accessible to organizations. If there is no knowledge then there cannot perform any type of innovation. Innovation is totally dependent on the knowledge accessible by a company. That's why it is very necessary to recognized, kept and managed the knowledge efficiently to ensure a successful innovation by the organization (Levy, 1998).

Knowledge Management in Technology-oriented Organizations

Question # 1

Introduction

Knowledge is power and it is more powerful if it is recorded efficiently. Knowledge provides a baseline data which reduces the burden on experts, makes the thinking capacity wide, benchmarks the progress, evaluates the performance, and manages a large number of information. Because of the knowledge, one can do these thing in less time as it can be taken as a really time saving tool. Whether you are working as a team or in isolation you need an authentic knowledge to proceed further in anything. Knowledge is basically different from the data and information. Data is the collection of facts and figures that represent observations which are not meaningful. And when this data is converted into meaningful thing then it becomes Information. It is a type of message. While the Knowledge is that on which we believe and consider that as meaningful, organized and useful information (Alavi & Leider, 2002). It comes into existence through communication or sharing, experience of a person or assumptions. Knowledge can be taken both as a thing to be stored and manipulated and as a process of knowing and acting upon that. Practically, an organization must need to manage the knowledge in both perspectives either object or process. Knowledge can be implicit or explicit. Implicit knowledge is understood and applied subconsciously but it is difficult to express. It is only developed from direct experience and shared through highly interactive conversation. In contrast, explicit knowledge can be more precise and formal but it can be more easily documented, shared or transferred. Therefore, although more abstract, it can be more easily codified, documented, transferred or shared. Explicit knowledge is playing a very important role in many organizations of today as it is viewed as the most important factor of production in any business. We cannot even imagine an organization without procedure manuals or computer software. It has become a core thing now (Alavi & Leider, 2002).

Discussion

Technologies have become very significant in today's era for the development of any organization.  In order to cater new products into the markets as fast as possible, the implementation of technologies are vitally important in an organization. It can bring a huge change and innovation in the processes of that ...