There are many definitions of knowledge management here are some of them:
Thomas H. Davenport definition of knowledge management as a systematic process of searching, selecting, organizing, distilling and presenting information the way it enhances an employee understanding of specific areas of interest.
Justin Hibbard defines knowledge management as a process of "catching" collective business expertise.
Owen Wilson summarizes knowledge management as a formulation of corporate strategy for the development and application of knowledge contributing to the improvement of business processes and response capabilities.
It is crucial to set up channels to get the innovative ideas, comments and projects from the employees to get them motivated, on the one hand, an to improve the knowledge, profitability and success of our company.
Boosting innovation in your company will result in a better motivation and awareness from the employees to the company development.
There are many cases in witch an efficient knowledge management promoted the generation of new ideas and projects that in some cases, boosted the company results.
The company owner, company founder and/or the board of direction is responsible for knowledge management and innovation. They have to set up an environment in witch employees feel motivated and shares ideas each other and with their bosses that will then put these ideas on running.
Practices as organizing brainstorms with the employees for the improvement of the company are even part of the business, making the employees feel part of the company, its development and success; making them motivated.
The evaluation of the ideas from the employees is also a task of the board of directors in each area of the company. This task includes the collection of the ideas, their classification, joining the ideas that are similar or that belongs to the same project, as well as make the employees motivated even if their ideas are not reflected immediately or even never. They may exchange more ideas in the future.
Setting up an internal platform containing the whole process of knowledge management, ideas, projects, ideas that have been post poned, ideas accepted… is also a good tool to maintain the knowledge management in the company.
It is necessary to avoid the fear of ridicule or non-acceptance of the idea. Creating an environment of trust in the teams.
Avoid the unwillingness to communicate ideas, by giving the employees rewards, praise for innovative employees, benefits ...
Avoid the fear that more efficient processes bring job losses by explaining new opportunities for employees.
Avoid the idea of an employee thinking that his/her idea could become his/her own company by rewarding for the ideas, competitions ban - a reference to the Labour Code (an employee shall not operate a trade in the same field as the employer), application of competition clause after the employees leaves.
Avoid de lack of knowledge transference by motivation of the employees as innovation leaders.
For all this tasks you will need at least skills on motivation, innovation, human relations and leading teams.
This video explains in more details how important is the knowledge management, what can you get from it and many other things about this subject in a clear way.
A really useful video that in 87 seconds summarizes the important of knowledge management.
TIPS AND TRICKS:
• Be sure to be motivated yourself to lead the innovation of your company as part of its success.
• Get the motivation, team leading, innovation skills.
• Set up a platform where the ideas of the employees can be dumped, sorted and public for all of them.
• Create a fair system of rewarding for the ideas or projects from your employees.
SUMMARY:
How to motivate your employees to produce innovation?
How to set up a platform for getting the ideas and projects of your employees?
How to organize these ideas and take the more feasible?
Process, product and strategic innovation.
How to create a culture in your company to encourage the innovation?
THINK OF SOME ANSWERS TO THE FOLLOWING QUESTIONS:
Did I understand the importance of innovation?
Do I really think motivation of the employees is crucial in the development of my company?
Do I know that not only my ideas but the ones coming from my employees are the real innovative core of my company?
