How Knowledge Sharing can Help Digital Enterprises

Mar 30, 2018 by

Knowledge sharing has been focused on as an important aspect in every field, such as in construction and other related enterprise. The importance of knowledge sharing for digital enterprises cannot be emphasized enough. Digital enterprises are rapidly experiencing digital transformation where various different technological ranges are in use at the workplace. The digital enterprise today is being filled with new platforms, new devices and all sorts of different and new digitally-enabled services. Reports are now showing that knowledge sharing platforms in digital enterprises have gained immense importance lately and are vital to the success of IT organizations. Today many digital enterprises are also using social media platforms as knowledge sharing platforms to increase knowledge sharing for company productivity.

The digital enterprise of the present era looks fairly different than before. With the rise of the use of internet for every single thing, many businesses have now begun to use completely different types of devices even in business areas that were not digitally enabled previously. This technological diversity has posed new challenges for digital enterprises and knowledge sharing has become even more necessary than before. Knowledge sharing is the best way to enhance the efficacy of a certain digital enterprise. When the digital team would have maximum access to the right kind of knowledge resources, much can be achieved for the digital business.

In simplest of words, companies who are habitual of sharing knowledge tend to thrive by sharing what they know. Internal know-how which remains unique to a digital company is the stuff through which competitive advantage for the company is built. Here are some other ways in which a knowledge sharing platform can help digital enterprises in several aspects:

Facilitation of Research and Enabling of Access to relevant resources and information

Whether the business is digital or not, it remains vital to answer the customer, analyze trends, solve a technical problem, create new offers and understand experiences of different departments. An enterprise must have access to a large number of collective resources for objective and critical reflection. The enterprise’s digital efficiency will be improved if the required content is quick and easy to be found whenever needed. In various large companies where digital knowledge sharing began early on, have seen massive improvements in their overall work process.

Reuse of Best Experiences

Once an effective digital solution is developed, and if it turns out to be the best, it cannot be used by the digital enterprise in all possible future situations. Knowledge sharing helps avoid redundant efforts for finding out new resources which may cost the company a lot. It saves a lot of budget and time and can also significantly streamline work. Not only this, it also keeps the morale of the employees high.

Improved Communication

Knowledge sharing also tends to improve communication within the enterprise whether it is digital or not. Employees are able to interact better with each other whether interdepartmental or intradepartmental. Improvement in relationship is also observed by managing and sharing knowledge.

Stimulation of Growth and Innovation

Most businesses, especially the digital ones are always seeking to increase their revenues one way or the other. However, as the competition in the digital world has increased, it has become a little difficult. By careful management of knowledge and sharing it well, employees are able to gain better access to information and can deliver way better results. The information and knowledge sharing stimulates innovation and promotes growth.

Improvement of delivery to customers

Digital consumers these days appreciate companies that can demonstrate widespread expertise and possess the ability to use this expertise to their benefit. In addition to that, timely delivery is essential for these companies and can assist a company in differentiating itself from its market competitors. Knowledge sharing platforms can help the companies in reducing the time which is required for the delivery of any product or a particular service. This results in increased success rates and obviously satisfied customers as a result.

Filling in Knowledge Gaps

In the year 2015, Millenials were reported to have surpassed Gen Xers as the biggest generation in the workforce. As the companies are getting bigger and there is a surge of new workers, it directs us towards a new and more pressing issue for the businesses. As baby boomers in every company are retiring and new employees are joining organizations, a gap in organizational knowledge is experienced. This decay in knowledge growth is unhealthy and can stunt organizational productivity and growth.

Promotion of organizational culture which encourages sharing of knowledge can assist in filling the generational knowledge gap. Therefore, digital enterprises now need greater and improved ways of sharing knowledge so that a vast knowledge capital can be created.

Increase in Efficiency

IT specialists have confirmed and reported that it takes most employees approximately eight online searches to find a particular document or information. While searching for this particular information, it takes around one-third of the employees approximately 25 minutes to look for exactly what they need. This means that it would take these people a lot of time to seek knowledge and hence would lead to non-productivity. Centralization of learning material and encouragement of knowledge sharing within the company helps increase efficiency so that employees do not have to run around and click through useless cluttered inboxes.

Encouragement of Leadership in Digital World

A leadership development study carried out in 2016 by Brandon Hall Group revealed that 77% of overall digital enterprises are experiencing a gap in their leadership. Encouragement of sharing of knowledge can not only assist in helping the learners collect information – when put together with gamification – but can also assist in fostering leadership through knowledge sharing strategies.

It is best to incentivize individual employees so that they share their knowledge and this way can help make their digital company empowered. The incentives for sharing knowledge can include gathering rewards and points whenever they perform or contribute towards a knowledge sharing platform.

Some other direct benefits of knowledge sharing for digital companies have been identified in a study carried out in 2009:

  • A direct positive effect is perceived on the receiving of monetary rewards

  • A positive indirect impact on the performance of employees

  • Positive direct and indirect impacts on the employee’s intention of leaving the company

Conclusion

Sharing of knowledge has several benefits for the digital enterprises. With an increase and expansion in online world, all of these problems can be alleviated. An organization which engages actively in knowledge sharing can help its employees in hoarding new and fresh knowledge every day and prevents them for feeling directionless. A digital enterprise which engages in knowledge sharing is actively ahead of its game in all ways. In short, knowledge sharing is good for companies and workers both.

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