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Abstract

This research aims to show that knowledge management is integral to business strategy and can lead to more efficient new product development in high-tech companies. Organizations have been increasingly focused on knowledge management methods as they have realized how important it is to manage knowledge to stay competitive in their marketplaces. Knowledge Management (KM) is responsible for a company’s efficiency, effectiveness, and innovation. Project outcomes, individual outcomes, and organizational outcomes are linked to knowledge in New Product Development (NPD). More than 28,548 KM papers published in the previous 22 years were examined in this research using Scopus and Web of Science; the original sample was narrowed down to items that contributed to KM literature. The R Studio and VOS Viewer software executed the descriptive statistics and scientific mapping approaches using co-citation analysis. The descriptive analysis involved studying publishing patterns over time, the geographical localization of the contributing institutions, journals, the most prolific authors, the top-performing institutions, and the most-cited papers. Scholars and practitioners have been paying close attention to knowledge management and organizational performance in recent years. Once implemented, the integrated approach may significantly influence organizational processes and performance. This study examines both KM ideas in NDP initiatives. Several intriguing discoveries are presented, with extensive explanations of their future direction, a conceptual framework for the study, and practice based on the literature.

Introduction

The movement and growth of organizations, particularly in business, determine a country’s economy (Islam & Abd Wahab, 2021). According to Belmonte-Ureña et al. (2021) and Panda et al. (2022), a small and medium-sized enterprise (SME) can significantly impact a country’s success. One of an organization’s main priorities is its performance (Hanaysha & Mehmood, 2022). While revenues are commonly used to evaluate a company’s performance, other indicators beyond income can represent standards for evaluation. Alshurideh et al. (2022) describe that performance is a metric established by management based on the organization’s results over time. Moreover, an SME is likely to accomplish success on the financial and non-financial fronts within five (5) to ten (10) years. The concept of organizational performance assessment is formed based on the combined analysis of an organization’s assets, i.e., human, physical, and capital, in order to achieve certain goals; determining an SME’s performance is not solely financial (Abubakar et al., 2019; Lee et al., 2022). Lazzeretti and Capone (2016) argue that an organization’s domain matters for innovation. Previous literature points out that groups tend to have better performance and possibilities while embedded in collaboration.

Businesses face numerous obstacles to staying competitive because of globalization (Katsikeas et al., 2019; Mukherjee, 2018). They encounter intense competition from other firms and risk losing consumers quickly since most need help recognizing and adapting to rapidly changing market trends. They are now driven to move away from other management approaches and towards knowledge management due to the growing value of knowledge. Knowledge management (KM) is defined as the capacity to manage information, including gathering knowledge from internal and external sources, transforming it into new strategies or ideas, and implementing and preserving it (de Bem Machado et al., 2022). In the early twentieth century, Henry Ford’s creative use of the assembly line in the automobile sector aided in the broad adoption of mass production (Öberg & Alexander, 2019), resulting in cheaper manufacturing costs. Manufacturing costs are a point for rivalry. Businesses develop new products and identify new product and delivery techniques for existing products to boost earnings (Kharub et al., 2022). Innovation is a term used to describe breakthroughs (Begum et al., 2022). By improving an organization’s performance (in terms of time, cost, and innovation) and product enhancements and differentiation, KM enables competitive advantage (Horng et al., 2022). KM also facilitates incorporating current knowledge into new and creative products. SMEs have been increasingly focused on KM methods as they realize how important it is to manage knowledge to stay competitive in their marketplaces (Adam et al., 2022; Ma et al., 2022). KM is responsible for a company’s efficiency, effectiveness, and innovation (Chen et al., 2022). New product development (NPD) knowledge is linked to design or manufacturing processes (Idrees et al., 2022). NPD refers to all product process phases, from product development through customer service; alternatively, it can be as simple as repositioning an existing product in a new marketplace.