As small businesses endeavor to distinguish themselves from their competitors, it proves imperative that they both identify ways of capturing knowledge that is distinctive to the firm and also explore ways of being innovative in how they capture and deliver value to their clients. Entrepreneurs must ascertain learn how to best develop learning organizations. There exist a number of ways in which entrepreneurs can capture organizational knowledge
In this day and age, entrepreneurs need more than just technical know-how in building up a wealth of knowledge that is unique to them. Firms that have been in existence for long usually have learnt the art of developing capacity to learn and utilize knowledge as a matter of survival. An organization’s knowledge architecture comprises shared understanding, internal systems, quality control measures, operating procedures and routines.
Employees’ skills, competencies and capabilities should be harnessed such that even by the time they leave an organization those individual unique contributions will still be useful to the organization. It becomes knowledge that is specific and applicable by that organization.
Through the practice of cross functional cooperation and sharing of knowledge within the organization, crucial firm-specific information can be built up and this could be used to advance a firm’s objectives. Improving the use and re-usability of tacit and explicit knowledge is key to also creation and retention of knowledge unique to a firm. Create a database and make it accessible across the organization. Take notes and document learning.
According to researcher Chris Argyris, in order to avoid the risk of losing the benefits of experience, a firm should explore the advantages of engaging in double loop learning as opposed to single loop learning. Single loop learning involves the adoption of a whole new set of structures to improve productivity and quality. Double loop learning occurs when those set of structures are continually altered, questioned and updated in line with experience gained and the ever evolving business environment. Foster bottom-up inquiry not just top down orders.
 An often overlooked point, proper knowledge management involves identifying informative patterns in the data a firm holds and converting that data into useful insights critical for decision making. Knowledge must be viewed as an asset rather than a burden. Data is knowledge something to be exploited and use to generate value. When an organization is able to harness knowledge that is imperfectly imitable, non-substitutable, rare and valuable, then it proves possible to transform this into a competitive advantage for itself.
 After-action reviews, learning reviews and frequent brainstorming sessions around consistent challenges facing a firm are some of the ways in which an entrepreneur might want to use to capture new knowledge. Another way firms can create an internal knowledge hub is by creating communities of practice which could go a long way in enhancing cohesiveness among employees and building team spirit.
One could also ask “What areas of knowledge if well harnessed now, would really propel us forward in the next five years and enable us achieve our goals?“. Capturing key information about existing clients and potential ones represents often the most important. As well is very important as one works their way around answering that question. This brings in the angle of incorporating customer profiling in their business so as to better understand their clientele.
In summary, a firm’s organizational knowledge base plays a critical role in its ability to be innovative and also survive in the long run. It is therefore imperative that firms learn how to generate new knowledge, capture exiting knowledge and use it to uniquely position themselves from their competitors.
