Knowledge Management: Turning Knowledge Management into Innovation in Hi-tech industries

Submitted to Ms Anita Venaik Prepared by: Vidhi Manglik (23) Shiwangi Chaudhary (02) Sapna Kapoor (01)

Knowledge Management definitions

-A multi-disciplined approach to achieving organisational objectives by making the best use of knowledge -The art of creating commercial value from intangible assets

Innovation
The rate of change inside the institution is less that the rate of change outside, the end is in sight. The only question is timing of the end. Jack Welch, GE.

What is Innovation?
Innovation means renewal or alter

What are innovation drivers?

Market Pull

Inno vation s Technology Push Technology Push Main focus: Innovation trends backed by governmental funds and regulations

Main focus: Innovations based on own technologies and on market knowledge

What innovation model to be used?

Innovation & R&D Strategy
Innovation and R&D strategy Strategic areas and technologies Innovation pipeline New technologies

R&D Knowledge Management

Technology teams Cooperations (Universities, Institutes) Innovation Forum People exchange IT Systems R&D

New Business Development

New business opportunities Multidisciplinary R&D projects Start up projects

Intellectual Property
IP Strategy IP Tactics

Knowledge is more than knowing

The creation, diffusion and use of knowledge have become the vital ingredient in economic growth and change. The innovation-driven economy builds upon these processes. (OECD, 2002)

looking at key elements

people processes Technology

Introduction to Innovation
Innovation is more than a good idea It is the process that takes a good idea, improves it and implements it.
Purpose Commitment Ability Support

Getting Innovation started

Innovation is like juggling. The organisation needs to focus on purpose, commitment, ideas and support Most companies are not short of ideas. What they lack is the commitment of others, the weight required to overcome the obstacles Innovation needs people who think in different ways People who are good at problem solving and analysis People who are capable of following hunches and convert them into ideas People who are capable of implementing them Innovation will fail if it is left to a creative few

Acting the Idea process

Selecting the ideas with the greatest potential Developing them further and modifying them Being very clear about the final shape and what it will look like Well-thought-through Plan for turning the idea into reality Walking Back 1. Just imagine 2. Take one step backwards 3. Keep walking backwards or catch it by the tail

Use of Innovation in Hitech Industries

Organizations are facing a rapidly changing environment and there is a greater need to understand customers demands and competitors strategies for the development of product innovation. Market knowledge and customer knowledge management mediate the relationship between market orientation and product innovation performance. Leadership is a strong component of making any theory work and should be one of the first areas addressed in future research. The dual purposing of a single category leads to insights to the most important areas for an organization to focus on if that organization is serious about the process of innovation.

Use
Virtualization may be used to support many of these strategic changes, like reducing communication costs, obtaining efficiency gains by co-design of new products. We conceive virtualization at an abstract level as making physical activities knowledge interaction in innovation practice like data mining, virtual design it highlights the connection between adaptation of young high-tech companies to strengthen cluster dynamics and regional knowledge networking, the differentiation between categories of young high-tech companies is often overlooked.

Use
Establish effective information capture and management systems & processes Identify/map organisational & individual knowledge capabilities your knowledge asset register Codify knowledge where possible, but dont discard non-codifiable (tacit) components

What are the challenges?

developing trust across the organisation addressing the people and cultural issues not allowing technology to dictate KM have a specific business goal for KM how to locate and acquire others knowledge how to diffuse knowledge in your organisation

Who is involved
Knowledge management is everyones responsibility. leaders need to demonstrate a vision for the organisation and actively support knowledge management initiatives managers need to support knowledge workers and provide environments conducive to knowledge sharing and creation

Tools Of Knowledge management

Britannica Knowledge Management Systemshitech learning business campuses. Calanit Carmon-Software infrastructure projects with MicrosoftHP Cardonet- coprehensive tools for development and management of procurement, supplier and e-marketing catalogs CASTup

Thank You

Learnings
explicit knowledge, tacit knowledge has a crucial influence on the success of innovation processes in companies. Evolution, vitalization and transfer of tacit knowledge as mentioned above. Knowledge is what we get when an observer. The gaps between knowledge/innovation, larger/smaller firms perspectives and inside/outside innovation processes should be filled in to map a more comprehensive picture of the proposition.

Research Papers
RAGNA SEIDLER- DE ALWIS, Professor at the Institute of Information Science at the, University of Applied Sciences in Cologne, Germany Ru-Jen Lin Graduate School of Business and Management, Lunghwa University of Science and Technology, Taoyuan, Taiwan, Republic of China By Richard B. Wallace Institute of Management of Technology, National Chiao Tung University