...Knowledge management embedded in social media – successful company and its innovations ABSTRACT The continuous market pressures and competitions pushes the organisation to be in the race of making innovations besides safeguarding the talent and information they own. The race for new products and services for the customers arises due to increasing awareness and exposure through social media. This essay focuses on studying the knowledge management jointly with social media leading to innovation. The essay seeks to examine the role of social media taking IKEA as the case of interest. It aims to further investigate how knowledge management through social media help a company in its innovations, product development and services. 1. INTRODUCTION. Knowledge management has become the buzzword in recent past in the industrial sector. Companies have become very focused on the knowledge assets that they own and the capabilities of their organisation or company and staff to utilize theses assets. Thus, knowledge can be called a resource which could be acquired, exploited and applied to achieve success and advantage for the company (Zack, 2003). However, companies that fail to manage the knowledge it has might surely be losing its capabilities, potential and brains (Denford, J. S., & Chan, Y. E., 2011). The benefits that knowledge management offers ranges from promotion and elevation of unequivocal knowledge to attain efficiency and innovation in various business practices (Durrant...
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...Group Collaboration and Web 2.0 Applications: | Knowledge sharing/retention, innovation and talent management | | | | [Type the author name] | 8/16/2009 | | Instructor Background Affiliated Computer Services, Inc. (ACS) is an outsourcing company for business process outsourcing and information technology services and has more than 70,000 employees worldwide. ACS has three divisions: IT services, Government Solutions and Financial and Accounting Services (F&A). The contractual agreements between ACS and the clients are not uniform. Each contract has specific Service Level Agreements (SLA) that ACS must perform. In the event that the SLA of the contract is not meet on a monthly basis then financial penalties are assessed according to the contract. The Mission Statement describes to goals of the company. The following two excerpts from the Mission Statement are an important to the success of ACS in providing exceptional service to the clients: We will design innovative solutions to meet our clients’ business requirements and deliver only the highest quality of service. We will marshal talented, committed people and create an environment in which they can grow professionally through their achievements. In addition to the Mission Statement, the core of the ACS culture is referred to as the Hustle Principle. The Hustle represents a “can-do” attitude. In essence, the Hustle Principles require above average individual and team performance, dedication...
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...“Using KM Tools to Enhance Innovation” Khalid Helal, khldhelal@gmail.com Master of Management, IIUM Introduction Knowledge Management (KM) is a recently emerging approach pointed at addressing today’s business challenges to increase organizational efficiency, efficacy and new innovation by applying several tools, techniques and strategies in business process. The purpose of this paper is to develop the organizational knowledge, knowledge sharing and enhancing innovation to increase the organizational and managerial efficiency. Those activities enhance and develop by the using of knowledge management tools and techniques. Further, knowledge management plays an important supporting function by providing a coordinating mechanism to enhance the changes of resources into capabilities. The knowledge management tools can influence to enhance innovation which is the significance for a firm’s performance. Literature Review A. Explicit and Tacit Knowledge (Nonaka, 2000) Has explained explicit knowledge is proper methodical or organized language shared in the form of facts, like as scientific method, specification and manual. It can be treated, memorized and systematic language”. transmitted easily. On the other side, tacit knowledge is really private and hard to formalize. Subject related intelligence fall into the several class or category of knowledge. (Wachter, 1999) Has explained “Tacit knowledge is personal and context specific, which is often developed over...
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...Level Three business students on the usefulness of innovation management and new product development in an essay format. The topic of the essay is “what skills should a business graduate acquire about innovation management in order to advance their career development and employability”. "We live in a society where technology is a very important force in business, in our daily lives. And all technology starts as a spark in someone's brain. An idea of something that didn't exist before, that once they have invented it —brought it into existence — could change everything. And that activity is generally one that's not very well supported." - Nathan Myhrvold, CEO, Intellectual Ventures From a 2010 interview with Harvard Business Review Introduction In the development of new businesses today, initiatives that spur knowledge-based competitions amplify the importance of boundary spanning activities and tactical coalitions, which cause organizations to focus more on institutional knowledge, system improvement and knowledge management (Quah, 2001). This essay will help the level 3 business school students to understand the required skills about innovation management to to advance their career development and employability. An innovation is something that is new. You are required to write a piece of advice to a group of Level Three business students on the usefulness of innovation management and new product development in an essay format. The...
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...Focus and Methodologies for Understanding Innovation in Small-Medium Enterprises (SMEs) Course : Qualitative Case Study Research Faculty : Prof. Rajen Gupta, MDI Submitted by : Davinder Singh, EFPM (2011) Research Focus and Methodologies for Understanding Innovation in Small - Medium Enterprises (SMEs) Introduction Innovation is a product, service, or process that is new or perceived as new by its developers and provides increased value to user and organization (Van de Ven, 1986). The ability of an organization to innovate is increasingly being considered as the most important factor for competitive advantage (Tidd et al., 2001). Importance has been laid on building innovative organizations and the management of the innovation process with the organizations. This is increasingly being considered important for small-medium enterprises (SMEs) and has been researched from multiple perspectives. The aim of this paper is to discuss, the areas of innovation in SMEs which are focus of recent studies, and the various research methodologies utilized for these studies. The importance to study innovation in SMEs is discussed in the succeeding section. This is followed with discussion on research studies undertaken in this field in the recent past. The difference in the ontological perspective and the consequent use of different research methodologies has been discussed using construct of ‘knowledge’ as illustration. Innovation in SMEs The role of SMEs in a country’s...
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...International Journal of Innovation Management Vol. 5, No. 3 (September 2001) pp. 377–400 © Imperial College Press DEVELOPING INNOVATION CAPABILITY IN ORGANISATIONS: A DYNAMIC CAPABILITIES APPROACH BENN LAWSON Department of Accounting, The University of Melbourne Victoria, 3010, Australia e-mail: blawson@unimelb.edu.au DANNY SAMSON Department of Management, The University of Melbourne Victoria, 3010, Australia e-mail: d.samson@unimelb.edu.au Received 1 February 2001 Revised 18 August 2001 Accepted 21 August 2001 This paper draws together knowledge from a variety of fields to propose that innovation management can be viewed as a form of organisational capability. Excellent companies invest and nurture this capability, from which they execute effective innovation processes, leading to innovations in new product, services and processes, and superior business performance results. An extensive review of the literature on innovation management, along with a case study of Cisco Systems, develops a conceptual model of the firm as an innovation engine. This new operating model sees substantial investment in innovation capability as the primary engine for wealth creation, rather than the possession of physical assets. Building on the dynamic capabilities literature, an “innovation capability” construct is proposed with seven elements. These are vision and strategy, harnessing the competence base, organisational intelligence, creativity and idea management, organisational structures...
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...organization for their assignments Journal of Knowledge Management Practice, December 2005 Available online at: http://www.tlainc.com/jkmpv6.htm Knowledge Sharing Practices In KM: A Case Study In Indian Software Subsidiary Sachin Bhirud1, Lewlyn Rodrigues1, Pradeep Desai2 Manipal Institute of Technology1, Philips Innovation Campus2 [pic] ABSTRACT: This study is concerned with the knowledge sharing practices in Knowledge Management (KM) for innovation. This paper investigates a wide range of functionalities under the purview of KM that supports different set of organizational activities. Knowledge sharing practices in the organization are also explored for the purpose of formalization and sharing best practices and experiences within the organization [pic] 1. Introduction The main objective of KM is to manage organizational knowledge to create new knowledge. The new knowledge is created by combining existing knowledge pieces or by generation of novel concepts through knowledge sharing. The KM and innovation is linked by knowledge sharing as depicted in Figure 1. 1.1. Knowledge Management Knowledge Management (Davenport & Prusak, 1998; Allee, 1997; Alavi and Leidner, 1999; Hsiangchu and Tsai-hsib, 2000) is the process of managing the organization’s knowledge by means of systematic and organizational specific processes for acquiring, organizing, sustaining, applying, sharing and renewing both tacit and explicit knowledge by employees to enhance the organizational...
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...Importance of Innovation has been discussed for decades and continues to be the most talked about management issue these days. Today, knowledge in all its forms plays a crucial role in economic processes. Organizations with more knowledge systematically outperform those with less. Within the knowledge-based economy, innovation is seen to play a central role. It was believed that an enterprise can maintain competitive advantage through quality and price. However, the research at the Ernst Young Centre for Business Innovation (CBI) has revealed that innovation isone of the most valuable differentiator for sustainable competitive advantage. Firms innovate to defend their competitive position as well as to seek competitive advantage. Innovation is at the heart of economic change. In Schumpeter’s words, “radical” innovations shape big changes in the world, whereas “incremental” innovations fill in the process of change continuously. Innovation is the motor of the modern economy, turning ideas and knowledge into products and services. 1 Apple, Google, 3M, Toyota, Microsoft, GE, and P&G were the most innovative companies in the year 2006 as per the annual list of the world’s 25 innovative firms. Innovation has been mostly discussed related to technology, product and processes. It has been argued that product and process innovation are not the main bottleneck to progress. The bottleneck is management innovation. But what is management innovation? Why is it so important? And how...
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...Adams, R., Bessant, J. and Phelps, R. (2006), ‘Innovation management measurement: A review’, International Journal of Management Reviews, Vol. 8, pp. 21-47. Alavi, M. (2001), ‘Knowledge management and knowledge management systems: Conceptual foundations and research issues’. MIS Quarterly, 25(1), 107-113. Aswathappa, K. (2000), ‘Human resource and Personnel Management’, Tata Mcgraw-Hill Publishing, Company Limited, New Delhi. Banbury, C.M. and Mitchell, W. (1995), ‘The effect of introducing important incremental innovations on market share and business survival’, Strategic Management Journal, Vol.16, pp. 161-182. Bock, G. W., et al. (2005), ‘Behavioral intention formation in knowledge sharing: Examining the roles of extrinsic motivators, social-psychological forces, and organizational climate,’ MIS Quarterly: Management Information Systems, vol. 29, pp. 87-111. Cummings, J. N. (2004), ‘Work groups, structural diversity, and knowledge sharing in a global organization’, Management Science, 50(3), 352−364. Fliop. R. S. (2002), ‘Managing Human Resources-Personnel Management in Indian Enterprises’,New Delhi: Galgotia Publishing Company, New Delhi. Galunic, C. and Rodan, S. (1998), ‘Resource recombination in the firm: Knowledge, structures and the potential for Schumpeterian innovation’, Strategic Management Journal, Vol.19, pp.1193-1201. Grant, R. M. (1996), ‘Toward a Knowledge-Based Theory of the Firm’. 17: 109-122. Grant, R. M. (1991), ‘The Resource-Based Theory of Competitive...
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...Customer Clusters as Sources of Innovation-Based Competitive Advantage Vishal Bindroo, Babu John Mariadoss, and Rajani Ganesh Pillai ABSTRACT The authors examine the effect of customer clusters on a firm’s innovation. They argue that knowledge leveraged from customer clusters can help the firm develop innovations. The authors specifically concentrate on the effect of a firm’s geographical proximity and diversity of customer clusters on innovation outcomes. In addition to showing the importance of customer cluster proximity on firm innovation, they explore the effect of customer cluster heterogeneity on innovation in an international marketing environment. They test the theoretical model using multicountry data (N = 288) drawn from the U.K. innovation survey implemented by the Economic and Social Research Council, which collected the data across five European countries. Theoretical constructs operate largely as hypothesized and explain a substantial proportion of the variation in the different innovation outcomes tested. Keywords: radical innovation, customer cluster, cluster heterogeneity, proximity, innovation speed I nnovation is frequently acknowledged as the source of organizational renewal and growth, the primary source of competitive advantage (Porter 1990), and central to marketing strategy (Varadarajan and Jayachandran 1999). Because innovation is linked to superior financial performance and survival ability of firms (Agarwal, Cockburn, and McHale 2006), creating...
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...Managing Crowds in Innovation Challenges Arvind Malhotra Ann Majchrzak Crowdsourcing for innovation is typically conducted as an “innovation challenge.” Despite the popularity of innovation challenges, there appears to be a growing consensus that innovation challenges do not succeed at generating solutions with competitive advantage potential. This article presents three ways in which managers can assure that their innovation challenges are fruitful: foster different crowd roles to encourage contribution diversity; offer knowledge integration instructions and dual incentives; and offer explicit instructions for sharing different types of knowledge. (Keywords: Creative Collaboration, Innovation, Creativity, Crowdsourcing, Open Innovation) I nnovation challenges, also known as innovation tournaments and idea contests, are a manifestation of crowdsourcing.1 When running an innovation challenge, a company posts an open call on the Web to solicit solutions from a diverse range of individuals. For example, GE’s Innovation Challenge solicited new technologies for its sustainability product line and a Lego Challenge asked the public to suggest unique Lego products as new revenue streams. By 2017, over half of consumer goods producers are projected to employ crowdsourcing for 75% of their consumer innovations.2 Despite the popularity of innovation challenges, there is a growing consensus that the current manner in which innovation challenges are implemented fails ...
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...Tourism Management 31 (2010) 1–12 Contents lists available at ScienceDirect Tourism Management journal homepage: www.elsevier.com/locate/tourman Progress in Tourism Management A review of innovation research in tourism Anne-Mette Hjalager University of Southern Denmark, Niels Bohrsvej 9-10, DK-6700 Esbjerg, Denmark a r t i c l e i n f o Article history: Received 27 January 2009 Accepted 31 August 2009 Keywords: Innovation Innovation systems Knowledge Clusters Policy a b s t r a c t Over the past two decades, there has been increasing focus on the topic of innovation in tourism. This article reviews the research contributions. Various categories of innovation – product, process, managerial, marketing and institutional – are addressed. Important determinants of innovation are acknowledged, including the role of entrepreneurship, technology push and the existence of territorial industry clusters. Representation of knowledge is also identified as a critical factor for both the occurrence and nature of innovations. The review reveals that there is still only limited systematic and comparable empirical evidence of the level of innovative activities and their impacts and wider implications for destinations and national economies. An agenda for future research is emerging, suggesting that there is quest for both formal quantification and for qualitative studies of the foundations, processes, implications and policies of innovation in tourism. Ó 2009 Elsevier Ltd....
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...Interdisciplinary Design Programme and Industrial Management Engineering Indian Institute of Technology, Kanpur 208016, India Email: jayanta@iitk.ac.in jayanta.chatterjee@gmail.com Phone: 91-512-2597858, 91-512-2597376 (O) Mobile: +91-9648117755 Jayanta Chatterjee “To learn, research, teach and consult in my competence areas, to evolve as a person and share my ken to make a difference through creative Innovation” Core Competence • • Research Interest • • Innovation in socio-technical systems Cause Related Marketing. Media & Communication. Global Sales & Marketing Product and Brand Management. New Business Development. • • Dr. Jayanta Chatterjee has 42 years of teaching/research and professional experience in management at different industries and in different countries. Strategic Design of ProductService Systems • • Digital ecosystem & autopoeisis Jayanta started his career in 1972 at Siemens in Sales and Project Engineering and developed expertise in new product management. He then pioneered the introduction of advanced electronic control systems to Indian Industries at Allen-Bradley Ltd, where he rose to the position of CEO in 1990. But true to his passion he was also teaching as a visiting faculty at IIT Kanpur and at IIT Delhi during this period. Later, he co-funded Strategy Innovation Inc and became the Chief Knowledge Officer of vtPlex. In 2001 he divested out of that enterprise and joined the academia full time at Industrial & Management Engineering Department of IIT Kanpur...
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...PROJECT MANAGEMENT AND INNOVATION IN THE CONSTRUCTION INDUSTRY It has been asserted by researchers that the knowledge and skills possessed by a company`s employees, contribute substantially to the organization`s capacity to innovate. Stewart (1997) sustains this view affirming that: “human capital is the capabilities of individuals who are the source of innovation and renewal within companies”. Egbu (2004) explores the factors that lead to innovation in relation to the managerial understanding of developing the human capital and integrating those ideas in the organizational strategies. In the study of four innovative construction organizations, it was noted that these organizations have similar characteristics that contribute towards stimulating innovation and human capital such as: flexibility in response to change and new information, a climate where mistakes are accepted as being part of the learning process and people are not afraid to take risks, an environment that promotes respect and employees are valued, where they are encouraged to share information, establishing a relationship of interdependence between employees and organization and also and a climate of trust and job security. (Egbu, 2004) Byrne (2001) states a very pertinent question: “Are employees capital or commodity?” and asserts that if the employees feel insecure in their jobs and feel that they can be easily replaced their willingness to share knowledge decreases considerable. He observed that without...
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...2.3 Knowledge and Innovation of the company( IV1 and DV) Knowledge is important in our entire life. Knowledge is referred to understanding of a fact or truth (Anonymous,2016). Besides that, knowledge is also meant by what is learned by a person. It is also defined as the information or skills which a person get from his or her experience and education(Anonymous,2016). Furthermore, knowledge also defined as the information combined with experience, context and interpretation (Marianne Gloet Milé Terziovski, 2004, p.203). Through the learning process, knowledge is developed. It is because when we are in learning process, we will gain some knowledge that we never understand before. In addition, we have difficulty to transfer knowledge because sometime knowledge is very hard to explain to make the learners understand in what we taught. Besides that, knowledge depends on memory. It is because when memory distortion occurs, we may learn incorrectly.(Sveiby,1997) Knowledge components is a process which a people is using it alone or in combination with other knowledge component. There are a few kinds of knowledge components which are domain knowledge, prerequisite knowledge, integrative knowledge and metacognitive knowledge. Domain knowledge is including concepts, facts, rules, principles and so on. Prerequisite knowledge is defined as the basic knowledge we must have. Integrative knowledge is including steps that link to other knowledge components. Metacognitive knowledge is about understanding...
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