5 Times Knowledge Is Power In Business

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Look through the history of business and you will find a long line of companies where knowledge has remained with those at the top and the rest of the ship is powered by those left in the dark. It’s only recently that transparency has been celebrated and this idea of giving employees all the knowledge they might need to make better business decisions in their role, day in day out. But that’s exactly what an open-door policy is all about.

It’s all about capturing and sharing knowledge with all those in your enterprise, whether it is financial knowledge or organizational knowhow. It’s about empowering each and every employee by giving them the knowledge needed to improve their morale, make them more productive and, above all, boost your company’s long-term success.

And to help you understand how this happens in more detail, we have made a list of benefits that come from better transparency and the sharing of knowledge:

1. Knowledge Trumps Fear

It doesn’t matter what task someone is faced with, the thing that terrifies us more than anything is that fear of the unknown. It’s the worst. It’s what makes us worry more than anything. But the truth is, the reality of a situation is very rarely as bad as the talk around the water cooler.

2. Knowledge Encourages Communication

One of the best things about knowledge is how effectively it promotes open-communication between those with a management parking space and those employees that have to take the bus in, as well as communication between departments. So, when in doubt, give people the bigger picture and watch their attitudes align.

3. Knowledge Gives People A Why

When you are an employee left in the dark, all you can do is speculate as to why certain decisions have been made and that speculations can create moments of negativity on the floor.  Flip that over and enlighten your employees and you’ll help them understand why those up top make the decision they do, and they will see improved levels of cooperation.

4. Knowledge Boosts Decision Making

When someone knows how their actions and decisions affect the wider business, they make smarter decisions. It could be a haulage company educating its drivers on the common causes of 18 wheeler accidents or it might be teaching salespeople why they need to be a bit more forceful with blue-chip companies. Understanding how a role affects the business is a surefire way to see better daily decisions being made.  

5. Knowledge Is Empowering

There is no end to this fact. Think about it. On the one hand, having employees know what’s going on and understanding how they can make a difference is a seriously awesome motivator, but it doesn’t stop there. It also gives people a bigger sense of ownership and that is when people do their best work. It’s their name that is getting stamped at the bottom and no one wants to do average work when that is the case. Trust us on that.

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