...Knowledge Management – A Review Knowledge has long been considered an intangible asset that can only be passed on from a teacher to his pupils through years of teaching and knowledge transfer. However, present day technological advancements and the increasingly dynamic nature of knowledge have led to the dissolution of the “sacred” teacher-pupil affiliation. Knowledge, now, is more of an entity that can be codified, stored, mined and retrieved as and when required, by any one and anywhere around the world. Albert Einstein’s quote, “The only source of knowledge is experience”, is now more of an anecdote than reality, as more and more organizations are realizing that knowledge learned from one’s experience can be codified, i.e. transformed into knowledge “packets” that can be stored and transferred to others. Business organizations have been the primary users of such codified knowledge, as huge amounts of information runs through the various divisions of an organization, which can be integrated and used for making more profitable, strategic and constructive business decisions. Thus, the need for knowledge management arose, wherein, chunks of codified knowledge has to be appropriately managed for ease of retrieval and use. The influential paper, “Managing Codified Knowledge” by Zack (1999) is reviewed here. The definition of knowledge and knowledge management, the benefits of knowledge management, the author’s rhetoric on the architecture of knowledge management and its importance...
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...the importance of knowledge management strategies and its effect on an organisation is perhaps debatable. In a not for profit organisation such as Teen Challenge, knowledge management strategies are vital and greatly affect the strategic management of the company. Teen Challenge is a Queensland based not for profit organisation that focuses on rehabilitation of young women. Founded in 1971, Teen Challenge has created a safe environment for 16 to 39 year old females with issues such as substance abuse, mental illness, addiction and homelessness (Teen Challenge, 2013). The necessity of knowledge management, its importance and specific strategies, will be discussed and a final outcome will be offered as to whether not for profit organisations need knowledge management strategies to operate. This outcome will be applied to the Teen Challenge organisation demonstrating that knowledge management strategies can be analysed in a local, not for profit organisation. A question to be considered when addressing non-profit organisations and their knowledge management strategies is the necessity of it in the scope of their operation. In a non-profit organisation such as Teen Challenge, the main knowledge management strategies that could be potentially utilised are codification and personalisation. Management strategies are a major part of strategic management as codification and personalisation influence many factors of the business. Some other influences include, managing staff and clients...
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...Understand the fundamental value proposition and key tenets of knowledge management 5. Identify the opportunities for knowledge management in e-business 6. Understand the fundamental ideas behind knowledge-enabled customer relationship management and its evolution E-Business: Is the conduct of business on the Internet, not only buying and selling but also servicing customers and collaborating with business partners. CRM: Is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. KM: The capabilities by which communities within an organization capture the knowledge that is critical to them, constantly improve it and make it available in the most effective manner to those who need it, so that they can exploit it creatively to add value as a normal part of their work. Death of 4 Ps Building Digital Capital: Knowledge & Relationships. Important Definitions: Customer Acquisition Cost, Channel Strategy, Switching Costs, Lock-In, Segmentation, Customer Profitability, Customer Retention, Response Analysis Fundamentals of Customer Relationships: Lifetime Value of Customers, The Good, Bad, & Ugly The 4 Tenets of CRM CRM Lifecycle: Acquisition, Enhancement & Retention Knowledge Management * Knowledge management is the process of managing organizational knowledge for creating business value and sustaining competitive advantage...
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...1. Introduction ‘Knowledge is power’, an old saying from Francis Bacon, which is considered as a true statement that has been recognised for a long time (Greco, 1993; Nielsen and Rasmussen, 2011). Especially, in recent 20 years, the interest and importance of knowledge in organisations has been increased remarkably in both theoretically and practically (Cheema, 2010; Knight and Howes, 2003; Rasmussen and Nielsen, 2011). The reason is revealed by Migdadi (2009) and Politis (2005), in the new economy, the intangible resource, knowledge has become the foundation of organisational competitiveness compared to tangible assets. In other words, the traditional driving factors of production, including, land, labour and capital have turned into the secondary resources as knowledge become the primary source of power in production within the contemporary economy. The work of Rasmussen and Nielsen (2011) reveal that intangible resource is regarded as a typical feature of knowledge, which can build capabilities for both organisations and individuals, consequently, in this new economy, also can be called knowledge-based economy made knowledge become strategically important to provide sustain competitive advantage for enterprises, especially in high technology and bioengineering sectors (Niu, 2010). Knowledge therefore has emerged as a main source of power as well as core competency in today’s emerging economies. However, new possibilities and threads are constantly taken place to challenge...
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...1. Introduction ‘Knowledge is power’, an old saying from Francis Bacon, which is considered as a true statement that has been recognised for a long time (Greco, 1993; Nielsen and Rasmussen, 2011). Especially, in recent 20 years, the interest and importance of knowledge in organisations has been increased remarkably in both theoretically and practically (Cheema, 2010; Knight and Howes, 2003; Rasmussen and Nielsen, 2011). The reason is revealed by Migdadi (2009) and Politis (2005), in the new economy, the intangible resource, knowledge has become the foundation of organisational competitiveness compared to tangible assets. In other words, the traditional driving factors of production, including, land, labour and capital have turned into the secondary resources as knowledge become the primary source of power in production within the contemporary economy. The work of Rasmussen and Nielsen (2011) reveal that intangible resource is regarded as a typical feature of knowledge, which can build capabilities for both organisations and individuals, consequently, in this new economy, also can be called knowledge-based economy made knowledge become strategically important to provide sustain competitive advantage for enterprises, especially in high technology and bioengineering sectors (Niu, 2010). Knowledge therefore has emerged as a main source of power as well as core competency in today’s emerging economies. However, new possibilities and threads are constantly taken place to challenge...
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...AND KNOWLEDGE MANAGEMENT: According to Edvardsson (2008) knowledge-oriented human recourse practices can improve firms’ knowledge sharing processes through two different ways. First, firms can use such human resource management (HRM) practices which can provide a foundation for acquiring and encouraging firms’ employees. Second, firms can use such sorts of HRM practices for building an organizational culture that support the knowledge capture, transfer, and use. Chen and Huang (2011) stated that HRM practices and policies are the key sources by which organizations can influence on the individuals’ behaviors, attitudes, and skills. In this fast-growing environment, where flow of information resources or knowledge transfer processes...
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...(3)Knowledge Management(KM)is a fashionable business term. Explain what is meant by knowledge and knowledge management(KM), and evaluate why KM is central to the success of an organization. Knowledge Management (KM) is a newly developed business term. Thanks to the booming of information technology (especially the internet) from the 1990s, people could get information and knowledge much easier than before. As the integration of individuals, organizations need to process and manage even more information and knowledge. Therefore, the art of knowledge management becomes very crucial for modern organizations. Before talking about the term Knowledge Management, first we need to know clearly what knowledge is. The definition for knowledge is a traditional debate topic among the philosophers. The most well known definition is as Plato suggested; knowledge is a statement which must be justified, true and believed. However, as modern people, we need to define it in a modern way, just as Oxford English Dictionary describes knowledge as (i) expertise, and skills acquired by a person through experience or education; the theoretical or practical understanding of a subject, (ii) what is known in a particular field or in total; facts and information or (iii) awareness or familiarity gained by experience of a fact or situation. Personally, I think the most refined and inclusive way to describe knowledge is; the kind of information that describes the relationship between other information...
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...Abstract: This paper works out a conceptual framework for studying the performance of franchising networks. Franchising networks, which originally developed in the context of Western economies, are currently operating in transition economies as well. Some franchising networks fail and some succeed. The paper views performance of networks as a complex process of adaptation to the environment. Characteristics of networks, which appear due to the environment, influence the drivers of performance, i.e. the factors that are responsible for the networks’ success or failure. The paper is theoretical and makes use of different sources of evidence: empirical and theoretical studies on franchising and inter-organisational networks. The conceptual framework is finally tested on a small case study of two franchising networks operating in Russia. JEL-code: Franchising Networks, Performance, Flexibility, Information Exchange, Innovation and Learning Outline I. Introduction 3 II. Definition of franchising networks 4 III. Institutional environment of a transition economy 5 IV. Performance of franchising networks 7 A. Flexibility 7 B. Information exchange 10 C. Innovation and learning 12 IV. Conceptual Framework 15 A. Sociological and Economic Traditions of Network Research 15 B. Economic Theories for the Study of Networks 16 C. Sociological Theories for the Study of Networks 17 D. Conceptual Framework for the study of Performance of Franchising Networks 20 ...
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...KNOWLEDGE MANAGEMENT BBA111 – Report (2012) Leon Chen “Knowledge is experience. Everything else is just information” – Albert Einstein To remain competitive in the 21st century, organizations must efficiently and effectively create, locate, capture, and share their organization’s knowledge and expertise. Organizations must then utilize this knowledge in a manner that adds value to the company and its stakeholders. This process of acquiring, sharing and using knowledge is referred to as knowledge management. Contents Introduction 2 Knowledge acquisition 3 Tacit and Explicit Knowledge 3 Knowledge Acquisition Strategies 3 Knowledge Sharing 4 Information and Communication Technology (ICTs) 4 Communities of Practice 5 Individual knowledge Sharing 6 Utilization of Knowledge 6 Conclusion 7 Bibliography 8 Introduction Knowledge Management (KM) is the process and ability of acquiring, sharing and utilising knowledge that will benefit the organization. With new knowledge, organizations can grow and learn. Knowledge is constantly being developed by individual minds and it is the organization that plays a critical role in articulating and amplifying that knowledge . (Wiig, 1997) stated that the purpose of KM, from an organizational perspective, is to aid in utilizing internal and external knowledge resources in order to achieve stated goals and sustain competitive advantage. Although KM is now becoming widely accepted and utilized, with increased...
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...Knowledge Management in Health and Social Care Abstract Knowledge management was originally put forward by Teece and established in the mid- 1990s as an essential business development in commercial sector. Teece was the technology and innovation management scientist in America at that time, he found knowledge could leverage much information asset for transnational cooperation when delivering the technological cost between those companies and different countries. Nowadays, knowledge management is widely used with the organizations to deal with the overload information and maintain certain orderliness in all the things. Keywords Knowledge Management, Benefits, Knowledge Management Tools, Learning Organizations, Health and Social Care Introduction Knowledge management was originally put forward by Teece and established in the mid- 1990s as an essential business development in commercial sector. Teece was the technology and innovation management scientist in America at that time; he found knowledge could leverage much information asset for transnational cooperation when delivering the technological cost between those companies and different countries. Nowadays, knowledge management is widely used with the organizations to deal with the overload information and maintain certain orderliness in all the things. The Definition of Knowledge Management Before making knowledge management more clear, we should know what “knowledge” is. “Knowledge is power.” What we need...
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...According to Weber, authority is power accepted as legitimate by those subjected to it. These three forms of authority are said to appear in a "hierarchical development order". States progress from charismatic authority, to traditional authority, and finally reach the state of rational-legal authority which is characteristic of a modern liberal democracy. However in this paper, we will try to agree with Max Weber’s statement that, legal – rational authority is the most rational type of authority, while giving reasons to our argument. In English, the word 'authority' can be used to mean power given by the state (in the form of Members of Parliament, Judges, Police Officers, etc.) or by academic knowledge of an area (someone can be an authority on a subject). The word "Authority" with capital "A”, refers to the governing body upon which such authority (with lower case "a") is vested ( Arendt, 1961: 53). However, authority is often used interchangeably in governments with the term "power". However, their meanings differ. Authority refers to a claim of legitimacy, the justification and right to exercise power (Spencer, 1970: 258). For example, while a mob has the power to punish a criminal, for example by lynching, people who believe in the rule of law consider that only a court of law to have the authority to order capital punishment. Max Weber, in his sociological and philosophical work, identified and distinguished three types of legitimate domination that have sometimes been rendered...
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...Research Paper: Knowledge Management and Organizational Performance By James Smith This is a custom research paper writing on Knowledge Management and Organizational Performance A feature of the modern era therefore is the extent to which change is seen as being ubiquitous. This notion of change pervades both the realm of the popular as well as more analytical texts. Clearly the reasons for societal changes are complex but according to Lash and Urry (1987) they can broadly be explained by the liberalization of global capital and the information technology revolution. Lash and Urry (1987) characterize these changes as heralding the emergence of a new form of capitalism, that of disorganized capitalism, while other writers consider the contemporary period to amount to a rupture with modernity itself. Any change in society should also impact upon the way in which knowledge is distributed and organized within that given society. For a successful company however it is of course not sufficient to respond to changes in the environment; rather it is desirable to anticipate those changes and to adapt before anyone else. This is a source of competitive advantage for an organization. Thus change needs to be a continual process which takes place iteratively rather than as discrete events. The capacity to change in this way involves the whole organization and requires an understanding of how organizations can learn to adapt continually. More particularly it requires the organization...
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...2009 Kale and Singh 45 A R T I C L E Managing Strategic Alliances: What Do We Know Now, and Where Do We Go From Here? by Prashant Kale and Harbir Singh Executive Overview Alliances present a paradox for firms. On the one hand, firms engage in a large number of alliances to secure and extend their competitive advantage and growth; on the other hand, their alliances exhibit surprisingly low success rates. In this paper, we discuss how firms can address these failures by identifying some of the primary drivers of alliance success. First, we discuss how firms can achieve success with any individual alliance by considering critical factors at each phase of the alliance life cycle. Second, we show how firms can increase their overall alliance success by developing and institutionalizing firm-level capabilities to manage alliances. Third, we highlight emerging issues in the alliance context, including the need to recognize a new class of alliances between firms and not-for-profit organizations or individuals, the benefits of taking a “portfolio approach” to alliance strategy and management, and the opportunity to transfer one’s alliance capabilities to the effective management of other interfirm relationships, including acquisitions. I The Alliance Paradox n the last two decades, alliances have become a central part of most companies’ competitive and growth strategies. Alliances help firms strengthen their competitive position by enhancing market...
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...Information and Knowledge Management Strategy 2008 Contents Executive Summary 3 Introduction 5 Information and Knowledge Management Defined 6 The Case for Information and Knowledge Management 7 Information and Knowledge Management as a Cultural Issue 9 IKM Strategy 2003-2006 - Progress to Date 9 IKM Strategy Vision and Objectives 10 Strategy Action Plan 11 To recognise information and knowledge as corporate resources 11 To ensure information and knowledge are accurate and reliable 12 To improve access to information and knowledge 13 To facilitate the sharing and application of knowledge within the Council and across Services 13 To encourage and support the creation and nurture of knowledge 14 Implementation Plan 15 Approach 15 Roles and Responsibilities 15 Deliverables and Outcomes 16 Skills 17 Next Steps 17 References 17 Executive Summary Introduction ▪ Information and knowledge are valuable resources that must be managed with as much care and attention as the traditional resources of people, money, and buildings. Indeed, it is an asset that should be used effectively to the benefit of the Council and its community. ▪ The proposed strategy will help to ensure all information and knowledge created and used within the council is accessible to all and will ensure that information and knowledge are managed...
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...Tutorial 3 1) Define Knowledge Management. KM is the process through which organizations generate value from their intellectual and knowledge-based assets. Most often, generating value from such assets involves codifying what employees, partners and customers know, and sharing that information among employees, departments and even with other companies in an effort to devise best practices. 2) What are the objectives of KM. * Foster innovation by encouraging the free flow of ideas * Improve customer service by streamlining response time * Boost revenues by getting products and services to market faster * Enhance employee retention rates by recognizing the value of employees' knowledge and rewarding them for it * Streamline operations and reduce costs by eliminating redundant or unnecessary processes 3) Why is KM considered a multidisciplinary science? Knowledge Management (KM) is sometimes considered as a two edged sword. This explains the multidisciplinary nature of KM. Anyone can find a familiar foundation on which to base their understanding and even practice of KM. For example someone with journalism skills can quickly adapt his or her skill set to the capture of knowledge fro experts and reformulate them as organisational stories to be stored in co operate memory. Someone coming from a more technical background can use their skill to design and implement knowledge repositories that will serve as the corporate memory for that organisation...
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