How to Build Knowledge-Based Companies?

Knowledge management is increasingly important for companies looking to improve their organizational processes and drive innovation. In order to effectively manage knowledge, however, executives must engage in supportive leadership and reshape the corporate structure to facilitate knowledge sharing and idea generation. This involves providing support and clear communication to employees, as well as developing a flatter, more decentralized organizational structure that empowers subordinates to explore new ideas and solutions. Ultimately, effective knowledge management can lead to increased sales, customer satisfaction, and innovation, as well as a higher quality of products and services.