Knowledge Management: Factors Influencing Successful Innovation

Abstract

The aim of this study is to find out the factors, which have a great impact on innovation. As innovation is the only way forward to the demands of the modern market. Knowledge management, knowledge economy and knowledge about consumer behaviors are the three most effective inputs for any type of innovation. The research is based on hypothesis testing in SPSS software. All of the three variables are found to have a positive and significant correlation with innovation. The results add a significant contribution to the body of knowledge regarding innovation. And the conceptual framework is applicable for any type of innovation and organization.

Keywords: Knowledge Management, Knowledge Economy, Knowledge about Consumers Behavior and Innovation.