back to dictionary
Know-How
It can be defined as the accumulation of essential know-how and experience that have led an organization to success and are now part of the company's know-how.
Sometimes the term is used incorrectly, using it to define any technique of a company. However, a series of requirements must be met for the processes to form part of the company's know-how:
- It should be about something concrete and specific. It cannot be something general that can be part of any other company.
- It has to be a distinctive feature that sets you apart from the competition, therefore it has to be something confidential.
- It represents a competitive advantage, compared to other competitors in the sector.
At the Marketing level, Know-How is part of the greatest attractions of the organization. One of the best known examples is that of the intriguing secret formula of Coca-Cola. They have many competitors but none can exactly imitate their flavor, also for commercial purposes this mystery sets them apart from the competition and places them as a leader in their sector, giving the company a competitive advantage.
However, know-how goes far beyond an exclusive formula or procedure. It encompasses work methodologies, internal processes, best practices, innovation capacity, and the accumulated knowledge of the people who make up the company. In many companies, this knowledge resides in the experience of its professionals and constitutes one of its most valuable assets.
Are you ready to be a Leader?
Working with people is a challenge that is both exciting and complex. This is why we must always remember the type of leader we aspire to be. Leading a work team is a skill that can be acquired through practice, and we're here to share some valuable tips with you.
