Innovation and Knowledge Management

摘要

Successful business operation depends on several factors. Among these factors knowledge management and innovation are extremely important business areas. The aim of this theoretical study is to introduce how these two models work together and how their relationship reinforces the chance for success. Relying on secondary data analysis and literature review, the authors prove that the classical innovation model can be a part of this relationship together with the organizational innovation where the human resource come to focus. The logic of system building of knowledge management emphasizes that the path leads from the attainment of innovation knowledge to the evaluation of utilization. The present study reviews the steps of the two business models and highlights the most important relationships in a new model linking the appropriate phases. The synergistic elements can be reinforced if the corporate culture supports the expectations emerging among the factors of learning organization together with the parameters supporting innovation. The success of these models can be increased by the application of the brand new innovative solutions such as open and frugal innovation. Introducing the synthesis of knowledge management and innovation it can be understood where and how these two business factors become an inseparable complex construct.