By: Mostafa Sayyadi
Executives should look at three-step processes of knowledge accumulation, integration, and reconfiguration. This model for managing knowledge reflects a more strategic and practical perspective, as it is process-oriented and most applicable for leading organizations.
Knowledge accumulation coupled with integration and reconfiguration ensures that this actually helps companies exchange knowledge to overcome challenging situations in the time of COVID-19.
In this model, organizational knowledge, firstly, is accumulated by creating new knowledge from intellectual capital and acquiring it from external environments. In this process, executives can particularly develop a workplace which is effective in:
- Acquiring knowledge about new products/services within the industry.
- Benchmarking performance with competitors or industry.
- Using feedback to improve subsequent practices.
- Utilizing teams (e.g. committees or management teams) to manage knowledge resources.
- Developing and implementing education or training programs.
- Carrying out a career path program or recruitment program to acquire experts.
- Conducting organizational events (such as a “knowledge contest” or “knowledge fair”) that promote knowledge activities.
Secondly, knowledge is integrated internally to enhance the effectiveness and efficiencies in various systems and processes, as well as to be more responsive to market changes. In this process, executives can particularly develop a workplace which is effective in:
- Monitoring or controlling organizational knowledge to keep products or services in line with market requirements.
- Regularly assessing knowledge requirements according to environmental changes.
- Linking the knowledge sharing system using various software and programmes.
- Defining “core knowledge” or “core competence” areas.
- Using expert groups to evaluate the quality and effectiveness of organizational knowledge.
- Disseminating organizational knowledge among employees.
- Rewarding individuals or teams based on the quality of knowledge generated.
COVID reshaped every department—including your innovation department. Find out how some organizations adapted to the remote work age by creating the virtual innovation lab, and how you can create your own by downloading this complimentary infographic.
Thirdly, the knowledge within organizations needs to be reconfigured to meet environmental changes and new challenges in the time of COVID-19 and at the same time should not be leaked to the competition in any shape or form unless agreed upon by senior executives. In this process, knowledge is globally shared with other organizations in the environment. Executives are aware of networking with more successful competitors is a key activity for companies to share successes and communicate best practices as a way of identifying new collaboration opportunities that can occur to meet COVID-19 challenges and keep the highest standard of operation in the industry. In doing this, executives can particularly develop a workplace which is effective in:
- Creating knowledge alliances with suppliers, customers, or other partners.
- Sharing knowledge management visions and goals with external partners (such as suppliers and customers or other partners) to develop collaborative activities, shared goals and trust-based relationships with them.
- Extending (or linking) knowledge related policies or rules (measurement, rewards) with external partners (such as customers, suppliers or other partners).
- Linking our knowledge sharing system with external partners (such as customers, suppliers or other partners).
- Facilitating and implementing activities such as conferences, contests, seminars with external partners.
This article introduces an applicable model to manage knowledge in companies in the time of COVID-19. Executives now know that applying knowledge management using this model is advantageous and good sound strategic implementation. I walk executives through a process of knowledge accumulation, integrating knowledge into day-to-day operations, and a continuous reconfiguration to recognize the challenges associated with the corona virus pandemic and respond to them quickly and effectively.
About the Author
Mostafa Sayyadi works with senior business leaders to effectively develop innovation in companies, and helps companies—from start-ups to the Fortune 100—succeed by improving the effectiveness of their leaders. He is a business book author and a long-time contributor to business publications and his work has been featured in top-flight business publications.
Featured image via Unsplash.