Knowledge alone is not sufficient, gaining business insight and foresight to accelerate digitalization is the key.
It’s important to be truly open to new ideas, or if you are only pursuing those that support your current understanding of the facts: Learn to avoid pitfalls on the way, discover how and where to find invaluable information, not just the information itself. It is a basic way humans cope with the thousands of bits of stimuli that they encounter - information being only one. They have to make fact-based decisions and deal with complexity effectively.
Because the information you absorb and knowledge you select becomes "part" of you, and directly impacts how you make judgments or decisions. Organizational management needs to ponder: What investments can we make that lead to both staff and customer satisfaction? How to foster a culture of people centricity? Where to start, and who are change agents? Not only do fact based analysis, but also be open to new ideas, balance short-term quick gains and long term perspectives, with the goals to build organizational competency.
It’s critical to gather the knowledge or fact around the subject under scrutiny and then and only then, can you be selective in getting the right information to make sound judgment timely: There is good information, misinformation; there is new knowledge, outdated concepts. It's important to make connections between pieces of knowledge. The bridge between quality information and business insight is deep understanding, which allows business leaders to envision emerging opportunities, predict risks, have the right level of ambiguity tolerance, and lead the business forward confidently.
If knowledge is gained from learning, insight is captured from unlearning then, re-learning. It’s always important to connect cross-boundary dots for developing business insight. When these connections are structured in a meaningful way, we are better able to retrieve and apply knowledge effectively and powerfully. In information-savvy organizations, analytics needs to be well embedded into business culture, lead data-based decisions both at the strategic and operational level.
Constantly gain fresh knowledge as learning occurs through the processes to solve problems, the activities you spend on absorbing information and digesting knowledge; the experience of failing, etc. High potential leaders and professionals adapt more readily to whatever changes life/work throws at them. They not only assimilate the existing knowledge, but also they share knowledge with others to overcome common challenges.
Uncertainty and ambiguity are the new reality, with the paradigm shift, knowledge is not less important, but more important; knowledge alone is not sufficient, gaining business insight and foresight to accelerate digitalization is the key. The part of taking knowledge seriously as a corporate asset involves assigning responsibility for knowledge within the organization, developing business capacity for changes, dealing with risks effectively for running a high performance business.
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