Knowledge-Creating Value Networks are an extremely useful tool that has only grown in significance over the past twenty years. While there have been many branches of research focusing on using value networks in different types of organizations, it is vital to understand some of the original context surrounding knowledge-creating value networks. B眉chel & Raub (2002) provide a comprehensive outline and understanding of what a value network is, as well as what it does.
B眉chel & Raub (2002) provide an explanation of the benefits, stating that 鈥淭he results of the survey suggest that the major benefits of knowledge networks are to be found in three areas: improved efficiency, increased innovation and employee satisfaction.鈥 (p. 588).
These benefits are even more important when you consider the implications of participating in a knowledge-creating value network. B眉chel & Raub (2002) found that employees who participated gained the following:
- Participation in networks boosts individual motivation and satisfaction at work by facilitating exchanges of ideas with like-minded colleagues.
- Belonging to a network provides a sense of group identity and recognition by competent peers, further enhancing satisfaction and motivation.
- Engaging in network activities offers opportunities to hone existing skills and develop new ones, leading to improved individual performance and potential career advancement.
- Networks serve as platforms for talented employees to showcase their skills and performance, increasing visibility to potential promoters. (p. 588).
While employee satisfaction was an excellent benefit of knowledge-creating value networks, there were other benefits as well. This included the ability to foster innovation through sharing and leveraging knowledge, as well as four types of knowledge networks. These four knowledge networks are Professional Learning Networks, Best Practice Networks, Hobby Networks, and Business Opportunity Networks (B眉chel & Raub, 2002, p. 589). These four networks are guided by two focus areas, those 鈥...that primarily focus on individual benefits vs those that focus on organizational benefits; and networks that are self-managed vs those that are supported by managers鈥 (B眉chel & Raub, 2002, p. 589).
In summation, knowledge-creating value networks provide immense benefits to those who engage with them, whether for personal/individual benefit or for an organization's benefit.
Building a Knowledge-Creating Value Network
To successfully create your own value network, there are several steps posited by B眉chel & Raub (2002).
- Focusing your knowledge network - Your knowledge network needs to center around a specific topic or focus that is at the heart of the organization or individual. For this network to be effective, management and leadership need to be on board with the network. Finally, identifying key individuals with knowledge that can help build the network allows for high-level conversations and innovation to have the potential to occur.
- Creating a network context - While in theory, a network sounds simple, creating a space in which knowledge can truly be shared can be difficult. Depending on the current organization's structure, as well as how siloed different areas are, it can be difficult for networks to be successful. For knowledge to be shared, especially expert-level knowledge, crafting a space for shared experiences so others can gain an understanding of different subject areas becomes essential to network success. Finally, choosing an appropriate communication mechanism. While an e-mail may be an easy way to send information, it may not always be the most effective way to communicate for a network. Careful consideration needs to be given to provide the network with an intentional space for knowledge sharing and innovation.
- Routine network activities - For any network to be successful, there needs to be roles to help carry out the task of creating and maintaining the shared space where knowledge can be shared and created. To be successful, consistency in engagement becomes key for both cohesion as well as timely engagement on topics.
- Leveraging network results - To truly be successful, a network must have some tangible way of showcasing how the network is providing a space for knowledge sharing, creation, and innovation. By adding value, a network continues to showcase its worth, as well as carving out a space for authentic conversation.
As you think about your own knowledge-creating value networks, think through these steps and reflect. Where have you seen value networks that utilized similar approaches in their network creation? Where have you seen organizations start what seems to be a good idea for knowledge-creation, but then lose momentum and eventually give up on the idea? Finally, how can you craft a value network that stays consistent, as well as effective despite the initial and routine challenges of maintaining a network?
References
B眉chel, B., & Raub, S. (2002). . European Management Journal, 20(6), 587-596.
