The only sustainable competitive advantage is the people's learning agility and how quickly they can keep updating knowledge to capture insight.
Digital makes a significant impact on every aspect of the business from people, process to technology, both horizontally and vertically. Digital becomes the very fabric of high performing business, being outside-in and customer-centric is the new mantra for forward-looking and high mature digital organizations today. But what are digital organizational traits, how to define digital fit and take a structural approach for digitalization?
Knowledge Fit
How to Overcome Learning Inertia: Digital means the abundance of information and a shortened knowledge cycle. As companies around the world transform themselves into the digital business that is based on information, their ability to explore intangible assets such as information and knowledge has become far more decisive to build competitive business advantages. Both at the individual and organizational level, if you fail to climb the learning curve, you will get static and lag behind. Business leaders should be aware of learning curves or learning inertia, make an objective assessment of their organization’s learning competency.
The New Book “Digital Fit: Manifest Future of Business with Multidimensional FIt” Chapter IV Introduction: Knowledge Fit Knowledge is power, it couldn’t be truer in the digital era. On one hand, the fresh knowledge can be captured from the abundance of information, on the other hand, it doesn’t take long for the knowledge to become a commodity and even outdated soon. Thus, the only sustainable competitive advantage is the people's learning agility and how quickly they can keep updating knowledge to capture insight through it, and how well businesses can adapt to changes via managing their information and knowledge effectively.
The Five Stages of Information-Knowledge Management Information is the lifeblood and knowledge is the power of modern businesses. All leading businesses across the vertical sectors claim they are in the information management businesses. Information does not live alone but permeates to everywhere in the businesses, information potential directly impacts the business's potential of the organization. Managing the information-knowledge lifecycle effectively becomes a strategic business capability. And there are different levels of information/knowledge system models to meet the business requirement at a different stage.
Playing Innovation Oddball: Avoid Knowledge Traps Knowledge is the foundation of the imagination. We can use knowledge of the forces of physics to guide us in the exploration of the earth or space. Our imagination lets us dream of where we could go, knowledge helps us understand how and what forces we are dealing with in our journey. A great wealth of knowledge fuels imaginations. This, in turn, becomes things which can be useful. However, too much knowledge, especially if it’s outdated or too little knowledge will turn to be the trap of innovativeness.
Leveraging Systems Thinking for Managing Learning Cycles With the increasing pace of changes and cutting throat competitions, to effectively respond to the digital dynamics, either individually or collectively, continuous learning becomes an important skill for skill building and prerequisite of developing changeability. Either individually or collectively, we can define learning through the knowledge it builds, and the capability it develops. Organizations are learning through individuals and teams because businesses and their teams are made up by human beings. In fact, leading strategists were arguing that the only sustainable advantage was to learn faster than your competition and unleash your full digital potential. But more specifically, how to leverage Systems Thinking for developing learning practices and managing learning cycles systematically?
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