The Integration of Innovation, Technology and Knowledge Management

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Knowledge Management

Knowledge Management is a corporate procedure which is aimed at creation of centralized knowledge source in the confines of a company, which acquires, assimilates, distributes, integrates, shares, retrieves and reuses the intrinsic as well as extrinsic, tacit and explicit knowledge with the purpose of bringing innovations within the corporation in terms of commodity, personnel and procedures.

Types of Knowledge

Michael Polanyi (1962) was the one to identify the dual nature of knowledge. It was then that knowledge was divided into 2 main categories, namely, tacit knowledge and explicit knowledge. Both of these are discussed in detailed manner as follows:-

Tacit Knowledge: This can be referred to as the ability, specialization and logical thought process. Polyani put forward a stance that this type of knowledge is not just attributed to what is known but also the knower itself. This is so because sometimes, the extent of knowledge that is possessed by knower is extensive yet either they are not able to put forward the same in an effective manner or they do not possess the appropriate resources to circulate the knowledgebase within the people who are in need of such information. This is a form of knowledge that is tough to be acquired owing to its existence in terms of skill set, capabilities and ideologies possessed by personnel. This type of knowledge can just be observed by way of its implementation and this is the reason behind the difficulty of capturing, exploiting and diffusion of tacit knowledge about the employees belonging to a corporation.

Explicit Knowledge: This can be defined as the knowledge which is distributed or transmitted in terms of hard data, standard principles and well defined processes. This is often referred by some scholars and researchers as “Knowledge of Rationality”. This kind of knowledge is easier to be captured, managed, shared and disseminated among personnel belonging to a company.

Also Read:- Effective Change Management Strategies in Business

Knowledge Management, Technology and Innovation

Innovation and technologies cannot be considered to be equivalent, in spite of the fact that innovation may be the after effect of employment of new and extensive technologies. However, many a times, innovation takes place owing to the robust and effective redeployment or blend of existing technological advances. Successful innovations should generate extensive value for clients in the initial step and afterwards continue this value for a long time. Numerous new and great thoughts can be produced inside an organization; yet, just those which have a Rate of Return that is fundamentally higher than cost of capital are referred to as innovations. This higher rate can legitimize assets for invigorating innovation contrasted with different other options and can likewise compensate for the dangers taken to come up with respective innovation. In order to gain success, business associations are required to develop their capabilities for management and sustainability of innovation by capitalising over knowledge management and usage of new technologies. Apple Inc. is considered as an eminent symbol of advancement by associating innovation with technological advancements so as to generate value within the modern computerized age economies. With the passage of time, this company has come up with market disruptive products in seven fields i.e., individualized computing, animated films, music, mobile phones, tablet computing, digital publishing and retail outlets. Apple Inc. consolidated innovative ideas with robust engineering techniques to enable entailment of stunning accomplishments in terms of being the most appreciated tech organization within the confines of USA. Especially, its brand iPhone is today renowned across the globe for the innovative features that are incorporated within each new addition of this smartphone model.

PLA Model and iPhone’s story

In the modern era, majority of the companies across the globe are largely reliable upon their capability of delivering unique and enhanced offerings to market place at timely intervals. Knowledge management manager tends to possess a crucial part in providing assistance to such entities in becoming much more innovative. It can be inferred that creativity and innovation are the foundation stones of knowledge management in the absence of which, KM can not take place. In this regard, it is ascertained that there is extensive lean time between the creation of new knowledge and its dissemination within the confines of corporation to produce effective products and services. It is seen that the initiatives taken up in most companies to come up with innovations begin with execution of brainstorming sessions whereby the entity takes into account the view points of a large number of individuals to identify a potentially viable idea. In the modern era, top notch firms across the globe are required to consolidate the measurement as well as management of organisational tangible assets with the assessment of knowledge assets. Innovation is extensively reliant upon the accessibility as well as abundance of knowledge within the organization. This has given rise to a model which seeks to plan, lead and adapt new ideas to disrupt the market place by leveraging Information Technology System. This model is known as PLA (Planning, Leading, Adapting). This dimensional approach aims at measuring and assessing the overall procedure so as to facilitate creativity in the phases of capturing and storage. It is after this that the stimulation of innovation takes place in the next stages of dissemination as well as implementation.

Planning: This can be referred to as the policies, methodology and logics applied within step 1 to 4 of the model with a view to fulfill and supersede the perceived value of existing and future client. It is important for a firm to effectively lay out an overview of the structure in which the process would take place and the people who would play a key role in its execution. The training needs of assembling team are also ascertained hereby. The objectives are effectively laid down together with the constraints in which KM system would operate such as time, funds and scope. This phase is primarily focused upon ascertainment of definition of customers and their needs. It is then that the goal as well as objective related to KM system is set in accordance with existing and futuristic demands of clients. Hereby, a brainstorming team consisting of several critical and creative thinking personnel is formed.

Leading: This can be referred to as the extent and the manner in which stages 1 to 4 are executed through creation of necessary environment and sustenance of innovation capabilities for implementation of policies as well as methods laid down under the Planning stage of PLA. Further, it includes defining the indicators for monitoring as well as measurement of success in relation to every stage of KM model and then quantifying. To facilitate this, a data collection plan is created which documents the stages that are required to be quantified. Selection of KPI as well as metrics take place post which data is gathered and indicators are measured. Hereby, new ideas are made accessible to be evaluated by potential buyers.

Adapting: This reflects upon the assessment of the 2 prior stages, namely, planning and leading, to ensure appropriate alterations to facilitate execution of KM steps. This helps indulging and reacting to clients as well as stakeholders. Adapting emphasizes over the indicators for reduction of gap that underlies between actual and desired performance of system. Adapting also ensures that performance enhancement takes place within the system. This is institutionalized by altering policies, processes and incentive system. These alterations can be plotted at a small level to ascertain the sustainability and then execution of the same on an extensive level. Thus, another team of specialists is formed with an aim of converting ideas into reality.

It very well may be derived that KM is the core competency of Apple Inc., which is showed in its corporate culture to exploit new market space and giving a comprehension of predictive markets, at last converting it into astounding offerings items and brand devotion of clients. Apple's culture and knowledge-sharing initiative was embedded by its incredible leader late Steve Jobs when he made Apple University to guarantee progression of his vision. He capitalized on Yale and Harvard academics to show the organization's history to Apple administrators. This activity demonstrates the responsibility of Steve Jobs to oversee flow of knowledge within the confines of company. As opposed to existing business pattern towards straightforwardness and flat chains of command, Apple Inc. has savagely empowered mystery, silos and a startup attitude to foster the development of one of its most renowned brands named iPhone. This is an exceptional demonstration of technology and innovation wrapped up together in mobile technology industry. The entity thus charges premium prices from customers in return. In this regard, Apple's marketing efforts opposes imparting of data and effectively looks to preserve it. Regardless of all of these and the absence of direct information of what precisely is occurring within the confines of Apple Inc., the illustration of iPhone’s innovation can be seen. The company leverages its command over knowledge management and utilization of Information Technology System to generate a brand which seems worthy of its cost to customers. iPhone is thus seen as a market disruptive brand which illustrates the integration of innovation, technology and KM.

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