Today's knowledge special: spaghetti
Knowledge has been recognized as a valuable resource necessary for organizational growth and sustained competitive advantage, especially for organizations competing in uncertain environment. Grant (1996) and Liebeskind (1996) argued that knowledge is an organization's most valuable resource because it represents intangible assets, operational routines and creative processes that are hard to imitate. This is probably why Oticon focuses so much on knowledge assets and the management. Because it is an innovation based industry whereby a single ingenious innovation can truly gain it an upper hand in the market it operates in. Most organizations do not possess all the required …show more content…
Whenever necessary, staffs can, in retrospect, improve, update and rectify the knowledge leading to effectiveness, correctness and consistency. This is very important for an industry dependent on knowledge base asset and has a positive impact on projects earned value. It is a vehicle to recycle knowledge. Also, team consultation with experts can happen through phone calls, email or videoconferences. There is not necessary have to face to face. It can be face to document as well. Tacit and explicit knowledge is a vital item in any company (Kidwell, Karen, Linde & Johnson 2000), and more in the companies like Oticon; they should not rely just in the capacity and ability of their people to spread knowledge within the organization. Oticon needs to implement strategies, processes and systems to keep that knowledge in the organization, ready to be distributed to all the members of the company. For example when they hire someone new without the knowledge, it will takes time for this new individual to reach knowledge and he or she can only get knowledge from his or her project team. If any good idea was not presented in his or her unit and the company has a system he or she could research through the company to obtain better information and with this, it will come up with a better result in his or her project.
Trust is considered as an important factor which plays an important role for knowledge management Nahapiet and Ghoshal (1998). There is a