Keyword

Innovation, Knowledge, Information, Creativity, Competitiveness, Organisational Effectiveness

Abstract

This article deals with the indispensable role played by innovation and knowledge in improving the efficiency of an organisation. It discusses the methods used by an organisation to identify the wealth of knowledge deposited in its workforce and how it endeavours to hone their skills and abilities in order to create innovative products and services so that it (i.e. the organisation) steers ahead of its competitors. The article further explains the advantages of outsourcing innovation and knowledge and goes a great length in emphasising the importance of collaborative research as a means of sharing knowledge and best practices. The relationship between knowledge, innovation and organisational effectiveness has been sufficiently encapsulated in this article, making it easy for readers to synthesize the benefits that could be derived from such a relationship in order to make viable and realistic decisions


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