Since the corporate environment has undergone a major transformation, business organizations have intensified their search for strategies that will give them a sustainable competitive advantage. Such strategies generally require that the organization continuously differentiates its products and services, that is, firms must constantly be innovative. This continuous innovation requires a well-planned system of knowledge management that enables an organization to excel in market creation as well as technological and administrative knowledge.
One of the new trends in Knowledge Management arises from its association with innovation. In today's highly competitive business world, innovation is said to be the key factor which can drive organizations to create value and compete with global rivals. Knowledge Management highly emphasizes on the deployment of knowledge to gain competitive advantage and innovation, it requires input of knowledge to create new products, technologies, and managerial systems. It is thus reasonable to say that knowledge management is integral to innovation. In regard to this, it is important to understand and enhance the creation of knowledge in our organizations so that the organizations can gain value and outperform rivals through the adoption of knowledge management that support innovation. Innovation being an element associated with knowledge management is not restricted to just new products or services but it also encompasses the development of a new business model, product innovation, and sales model innovation or distribution innovation.
[...] ALLSHADE has an advantage in terms of customer/client reliability. Patency Protection Due to the fact that we have patented our product, gives us an advantage in supplying the most exclusive and durable structure in the market. The Threat of Substitutes Generic Substitution Substitute shade net carports are being produced by competitors that serve the same purpose but use a low cost poor quality structures that have no technical specifications. The Power of Buyers and Suppliers Buyer power is high when There is no risk and cost involved in buyers switching suppliers or selecting to attain a number of different quotes before deciding on which supplier to select. [...]
[...] ALLSHADE is lacking in today's current technological environment. There is not much utilization of the latest technological advancements in comparison to other organizations that are in the similar industry SWOT Analysis The SWOT analysis is an extremely useful tool for understanding and decision-making for all sorts of situations in organizations. SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. A SWOT analysis will offer an effective evaluative technique to aid the decision making process of the organization. It is not the solution, but it will ensure that the issues are identified, classified and prioritized and therefore decisions can be made. [...]
[...] This model is by far the most comprehensive in terms of who gets involved, the most all inclusive in terms of what kind of knowledge is created, the broadest in terms of where knowledge is stored and the most flexible in terms of how knowledge is created. (Nonaka and Takeuchi, 1995) The conversion of tacit to tacit knowledge by middle managers to front line employees is called socialization. There will be meetings held outside the organization where all the team members will discuss their experiences and share knowledge through socialization. [...]
[...] The political status of the country at the present time has affected ALLSHADE in a great way. With the Greek nation unsure of the future situation of the country, our clients are holding back on spending unnecessarily on accessories such as a shade net carport. ECONOMIC: The economic environment has a major impact in all economic entities and entrepreneurial organizations. The impact of the current economic crisis has affected all sections of the Greek economy. It has mainly affected small to medium sized businesses. [...]
[...] Organizations leveraging the knowledge of their human capital are able to innovate and adapt to the rapid changes of today's business world.(Nonaka and Takeuchi,1995) Knowledge Management is therefore important to support innovation in our organization COMPANY PROFILE Allshade is a well known manufacturer of shade net carports and a shade net material distributor with over 10 years experience of manufacturing excellence in Greece. The company was founded in 1999, the co founder and the CEO of the company had a vision. [...]
Online readingwith our online reader
Content validatedby our reading committee