THE ASSOCIATION BETWEEN KNOWLEDGE CREATION AND INNOVATION: A PROPOSED CONCEPTUAL MODEL

Abstract:

This study aims to comprehend the function of the organisation and its personnel in the process of knowledge production and innovation for the success of the organisation. The market is highly competitive as a result of new technology and services that have the ability to make small, unforeseen modifications that give rise to whole new products. The goal of the organisation should be to continuously develop its goods and services in order to stay competitive. In order for this innovation to take place, internal organisational knowledge must be created and effectively externalised. Innovation uses fresh concepts and ideas that are produced during the knowledge development process. The first factor to encourage knowledge production is transparency regarding the performance of the organisation, where employees are aware of their workplace and may give suggestions or ideas if the organisation is not performing properly. The company culture, where employees are free to socialise and so share their tacit knowledge, is the subject of the second element. A knowledge management team is required to close the gap between knowledge development and innovation. The knowledge management team's job is to collect concepts or ideas from the workforce, screen, filter, and qualify them before comparing them to the organisational goals. Making useful, sound decisions can be aided by this information redundancy. It also keeps in regular contact with the team responsible for research and innovation. Every idea or concept that the knowledge management team receives must be recorded so that the innovation team and the employees can access them later. The study offers a model where knowledge development starts with problem identification. The issue is brought up, the team discusses it, and each employee submits an idea or opinion to the knowledge management team. This procedure facilitates innovation.