Unlocking the Potential of Knowledge Sharing Mechanisms and Open Innovation Strategies: A Comparative Analysis of Their Impact on Firm Performance

Abstract

This study conducts a comparative analysis of the impact of these two approaches on firm performance, aiming to provide insights into their effectiveness and identify best practices for leveraging them to unlock organizational potential. The study examines various knowledge sharing mechanisms, including communities of practice, internal knowledge repositories, and collaborative platforms, and evaluates their effectiveness in facilitating knowledge exchange, fostering collaboration, and driving innovation within organizations. Additionally, the research explores open innovation strategies, such as strategic alliances, joint ventures, and technology licensing, and assesses their impact on firm performance metrics, including innovation output, financial performance, and market competitiveness. Through empirical analysis and comparative evaluation, this study seeks to elucidate the unique strengths and limitations of knowledge sharing mechanisms and open innovation strategies and identify synergies between them.