In knowledge management, the number one agenda on everyone’s list is to come up with a competitive advantage in order to cut for themselves a bigger slice of the cake. Because of this, many companies and organizations worldwide have decided to allocate bugger funding for research and development in the field of knowledge management. To gain the competitive advantage is something attainable-but not done without some elbow grease of sorts.
To start off, it is important for people who are seeking greater competitive advantage in knowledge management to be in tune with one another, or to be in sync with people and departments who also make use of the knowledge they also utilize. This is important because the knowledge will go around and when more people are familiar with it, it will be much easier to come up with solutions for various processes found in any type of organization. As such, there will be less double checking and feedback and waiting for approval of their requests since everyone will pretty much know what he or she is doing-as well as knowing what other people in his department or otherwise are doing, too. The competitive advantage in knowledge management also means investing a lot of funds for higher technology and time for many researches.
Even if everyone already knows the latest drill, if you do not update that then the latest drill will end up being the most obsolete piece of information worth knowing. The beauty of being at a competitive advantage when it comes to knowledge management is to come up with information using the most high tech means and disseminated to the rest of the team in the soonest time possible.