Information Networking
Collecting data or information is not enough. It is of value when it is shared with others. If you have a brilliant idea for the success of the company and do not share it, it is of no use. It is important to share or communicate the idea. The problem we are dealing with is related to Knowledge Management. Dr. Gillette says, “Knowledge Management depends on information. Knowledge management works by means of information networking, which we can define as “the movement and use of information”” (Gillette, 2000, p.1).
The movement of information is important. But it is useful only when the information is useful and is given to the right people. The whole knowledge base needs to be filtered and only the required information needs to be given. The timing of the information plays a major role. If there is a delay in giving the information to the right people, there might be a chance that the competitors might use the information to their benefit. In Information Rules, Shapiro and Varian describe the importance as, “Information is like an oyster: it has its greatest value when fresh” (Shapiro and Varian, 1999, p.56).
Being informed and involved in information networking plays a major role in companies in today’s information economy. Sharing the knowledge among the employees is good for the success of the company. Utilizing the information for competitive advantage and basing their strategic plans on the competitive intelligence developed from the information gathered helps companies be ahead of their competition.