Knowledge Management, Social Networks and Innovation

3506 Words Aug 13th, 2014 15 Pages

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Knowledge Management, Social Networks and Innovation
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Ray Hackney

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So processes and practices that firms utilize in order to manage knowledge are really important for attaining strategic objectives by harnessing complexity and making the best use of existing resources and capabilities (Zack, 1999a; Zollo and Winter, 2002). It could be forecasted that empirical study of social network would occupy an important position in the field of management and the guiding role of the research would become more obvious.( Yonghai, Y,2010)

Several years ago, one of the major challenges in knowledge management is to explore creative ways to convert the tacit knowledge base in organisations into explicit knowledge (Nonaka, 1994). But with the development of social network and social media, this challenge seems already had a good solution. Now more and more researchers have already realized the importance of social networks and social Medias to the KM.

Knowledge management
Recently, knowledge management (KM) has already been recognized as a key instrument to improve effectiveness and performance in the organization (Zack et al., 2009). The OECD has recognised that knowledge and technology have become drivers of productivity and economic growth in modern economies in 1996.

According to the definition from The Jennex (2005) expand on Stein and
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