The Importance of Sharing Information

Posted by lgtcpa on May 29, 2014

Sharing knowledge with those in your profession is crucial. By contributing new information to your current or potential colleagues or clients, you are educating and enhancing others. New information inspires new ideas that will help develop your profession. The way of thinking by successful business men and woman is no longer that “Knowledge is Power,” but “Sharing Knowledge is Power.”

Mr. R. Sethumadhavan lists several things that knowledge sharing can accomplish for your organization in his post, Importance of Knowledge Sharing for Organisations.

1. Foster innovation by encouraging the free flow of ideas.

2. Help in understanding markets and customers.

3. Development of product and services.

4. Development of vision and strategies.

5. Building competencies.

6. Improve customer service by streamlining response time.

7. Boost revenues by getting products and services to market faster.

8. Enhance employee retention rates by recognizing the value of employee's knowledge and rewarding them for it. '

9. Streamline operations and reduce costs by eliminating redundant or unnecessary processes.

 

Sharing knowledge is extremely important when looking to develop your business and yourself. “It is an engine that transforms knowledge into business value,” says Mr. R. Sethumadhavan. Today there are many ways to provide information to your audience through social media, print and word of mouth, what’s important is to effectively present and communicate.

You can ensure your effectiveness by reaching the right people with a message that interests them on a platform you know they use. In this way you can have efficient messaging, meaning that you can target the audiences who share common goals and visions as your organization.

Knowledge sharing also assumes an important role in social development as mentioned by Gijo George in Effective Knowledge Sharing and Its Benefits and Oscar Berg in Why Do People Share?

There are typically two types of people who share, one does so in order to seek “emotional communion” and the other shares as an effort to maintain their reputation. Those who pursue community have an intellectual conversation in hopes of being accepted into an organization or group of people and are more interested in using this opportunity to learn. Others do so in order to maintain their status or role in the organization as a person of influence. Both are important in the business world, as long they are conveying new information to those around them.

Share knowledge without being presumptuous or boastful.

Holding information hostile is something of the past. To share is to grow.

Seek the services of a legal or tax adviser before implementing any ideas contained in this blog. To reach a financial advisor at Lane Gorman Trubitt PLLC, call (214) 871.7500 or email askus@lgt-cpa.com.

References:

Oscar Berg – Why Do People Share? http://www.thecontenteconomy.com/2012/09/why-do-people-share.html

Gijo George – Effective Knowledge Sharing and Its Benefits http://ezinearticles.com/?Effective-Knowledge-Sharing-And-Its-Benefits&id=1106092

Mr. R. Sethumadhavan - Importance of Knowledge Sharing for Organisations http://www.indianmba.com/Faculty_Column/FC653/fc653.html

http://blog.appfusions.com/why-knowledge-sharing-is-important/

Topics: Accounting Tips