KM And Innovation

This is where knowledge management (KM) proves fruitful: Executive Edge (1998) asserts that KM is “a collaborative management discipline that aims to make employees smarter, more innovative and better decision makers” (As cited in Patton, 2001; emphasize added). There is abundant empirical evidence to demonstrate that KM and innovation are directly connected (Constantinescu, 2009; Darroch and McNaughton, 2002; Li and Jiang, 2009). Du Plessis (2007) reviewed the studies about the role of KM in innovation and discovered that innovation flourished in the abundance of knowledge available to it. Moreover, She postulated that KM facilitates innovation by providing it with explicit and codified implicit knowledge, allowing creative minds to synthesize the existing knowledge freely, enabling the collaboration of virtually every stakeholder in the business to eventually come up with new ideas, controlling and coordinating the stages of producing knowledge, and taking into consideration the often neglected aspects such as

Ju et al. (2006) believed that KM has turned into the top investment priority, and López-Nicolás et al. (2011) claimed that managers who want their companies to remain competitive are increasingly noticing it. Yet in another study, Wong (2005) claimed that KM is highly correlated with the intellectual capital of a company. Lu et al. (2008) held that KM is of crucial importance in management. Du plessis (2007) classified different applications of KM in the enhancement of various businesses. In her opinion, KM might elaborate in business achievements through constructing and keeping competitive advantage knowledge can bring about, simplifying innovation process, and organizing the knowledge that exists inside or outside a firm. Owing to the multifaceted nature of KM, researchers have enumerated various applications for it: from small- and middle- enterprise to knowledge construction to managing intellectual resources (McAdam et al., 1999; Randeree, 2006). For instance, Liao and Wu (2010) conducted a study on the first 1000 top companies and 100 top financial firms to identify the likely relationships between KM, organizational learning, and innovation. The results revealed that significant relationships exist between the variables. They also hypothesized that organizational innovation is the output of a system in which KM is the input and organizational learning is the key