The most valuable asset with any organization is intellectual capital i.e knowledge. Hence it is inevitable for organizations to create, nurture and develop this asset to achieve sustainable advantage in the market.
Organizations can leverage the power of knowledge and bring innovation in their product and service offerings, achieving higher customer satisfaction, higher revenues, profits etc. Ultimately it helps the organization meet its business objectives.
A knowledge sharing culture encourages people to work together more effectively and collaborate to share information. It makes the organizational knowledge more productive. Hence creating a knowledge sharing culture has become a norm in organizations
Why is sharing knowledge important? Can you list a few reasons?
As mentioned earlier, the only sustainable competitive advantage is knowledge and continuous innovation. To achieve this, knowledge sharing is important.
Today’s age is characterized by employees with high mobility. The concept of lifetime employment does not exist any longer. People change jobs for professional advancement and career growth. Hence when employees leave the organisation, their knowledge also walks out of the door with them. To retain the knowledge base within the organization, there has to be a knowledge sharing culture within the company.
As more and more organizations operate in the global space, the boundaries of country, geography, culture etc cease to exist. The culture of knowledge sharing can ensure that expertise learnt and applied in one part of the organisation can be leveraged in another.
The pace of change is accelerating, be it in technology, business or social. As things change our knowledge base erodes. Information becomes obsolete very soon and requires constant upgradation. Knowledge sharing comes to the rescue once again by not only conserving the knowledge