...EXECUTIVE SUMMARY Knowledge Management is a process where organization gathers shared knowledge from available resources like databases, paper and human minds and contributes it to places that help in generating large reimburses. In this assignment, our objective is not only to understand how Knowledge Management functions in the company but also to analyze the challenges and current strategies that the company is facing. We have studied the Knowledge Management system of company named – FACTIVA, USA. Factiva is one of the top companies in US, formed in 1999. Factiva in past was popularly known as Dow Jones Reuters Business Interactive. In late 2006 Dow Jones bought out Reuter’s stake in Factiva for $160 million. Factiva’s aim is to help its customers with straight facts and figures. Factiva is a leading provider of News Articles and Business Information. Mr. Clare Hart, the President, presently heads Factiva. Factiva’s web – based service provides a collection of information from 14000 Sources such as The Financial Times, New York Times, Wall Street Journal, and Yomiuri Shimbun and Etc. it also contains 400 Newswire Services (Dow Jones Factiva, 2010). In this assignment we have discussed and analyzed Knowledge Management, its current position and functioning and its challenges with ways given to improve the drawbacks of the company. The structure of the assignment begins with the introduction followed by the questions and answers about the Knowledge Management System in Factiva...
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...Tim Rosenberg – Information and Knowledge Management Systems – 6003008 The increasing complexity faced with global supply chains require companies to process information at high speeds. In order for supply chain staff to provide more consistent ways of processing data, complex IT strategies need to be integrated into the corporation. With a constantly changing supplier landscape, supply chain professionals need to be well versed in the companies Knowledge Management systems and processes. The ability to convert data into knowledge at high speeds will keep your corporation competitive. Whenever there is a new business unit opened corporations rely heavily on accurate purchasing, production, and customer service information in order to function properly. With the Board’s decision to vertically integrate the institution by opening a new business unit, the corporation needs to retain the knowledge that is captured throughout the parent company. It is also essential that both business units act interchangeably and share processes. For this to happen their needs to be a common system where information can be stored and accessed instantly anywhere in the world. I am proposing to the Board a switch to an IT service with integrated cloud based solutions, Oracle E-Business suites. Allowing information to flow freely between units will insure the corporation maintains a high ROI on their latest capital expenditure. The issue with the current ERP system is that it is incompatible...
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...MANAGING INFORMATION A critical evaluation of the importance & impact of Information & Knowledge Management systems, with an in-depth focus on relevant organizational issues. ------------------------------------------------- Course: LSBF - Online MBA - Module: Managing Information ------------------------------------------------- Submission Date: 4th Nov 2011 Presented By: Meenakshi Srinivasan (I043470) 1. AN INTRODUCTION TO INFORMATION MANAGEMENT “Information technology and business are becoming inextricably interwoven. I don't think anybody can talk meaningfully about one without the talking about the other.” - Bill Gates, Co-Founder of Microsoft Corporation Today we are in the pinnacle of the technology age where swift technology innovations are transforming the global business landscape every second of the day. For businesses and corporations “To win it – they have to be in IT”. Information Technology (IT) has revolutionized every aspect of business and it evident in the way the world works - using high-speed Internet connections for e-mail and information gathering, portable computers connected to wireless networks, smart phones & hybrid handheld devices delivering instant connectivity and computing power to an increasingly mobile and global workforce. Information technology has become the largest component of capital investment for firms in the United States and many industrialized societies. In 2005, U.S. firms alone spent...
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...HEINZ Name: Manjit Singh NCC ID: 00125191 Centre: NABT (Newcastle upon Tyne) Table of Contents Introduction 1 Strategic information of Heinz 2 SWOT Analysis 4 Porter’s Five Forces 5 E-Business Planning 6 Knowledge management 9 Customer relationship management 9 Conclusions 10 References 12 Introduction H J Heinz Company began its operation in the food industry in the year 1869, founded by Henry J. Heinz in Sharpsburg...
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...Table of Contents 1. Introduction 1.1 Why Knowledge Management and Knowledge Management System Matter …………3 1.1.1 Definition of Knowledge, Knowledge Assets, Knowledge Management and Knowledge Management System ……………………………………………………………………………….3-6- 1.1.2 Evolution of Knowledge Management and milestone …………………………………………6 2. Contents 2.1 Managing Knowledge in the Digital World and organization is a vital task ………………… …7 2.1.1 Benefits and motivations of leading organizations under-taking of KMS ……………… 7-9 2.1.2 Challenges of organizations under-taking KMS …………………………………………….9-10- 2.2 Strategies of Utilizing Knowledge Management …………………………………………………10-14 2.3 Management Systems 2.3.1 Management System Structures ……………………. ………………………………………. 14-17 3. Real Case Study ……………………………………………………………. 18-22 4. Conclusion ..……………………………………………………………………23 5. Reference ………………………………………………………………………24 1. Introduction 1.1 Why Knowledge Management and Knowledge Management System Matter ______________________________________________________________________________ To open KM topic, we have a few questions want to ask you: (1) Do you have a KM system? What is Knowledge Management (2) How to start a sharing culture? (3) Is the KM system aligned with the business strategy? (4) Is there a KM solution for my organization? From the following, we will try to find out the answers for your reference. __________________________...
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...Knowledge management embedded in social media – successful company and its innovations ABSTRACT The continuous market pressures and competitions pushes the organisation to be in the race of making innovations besides safeguarding the talent and information they own. The race for new products and services for the customers arises due to increasing awareness and exposure through social media. This essay focuses on studying the knowledge management jointly with social media leading to innovation. The essay seeks to examine the role of social media taking IKEA as the case of interest. It aims to further investigate how knowledge management through social media help a company in its innovations, product development and services. 1. INTRODUCTION. Knowledge management has become the buzzword in recent past in the industrial sector. Companies have become very focused on the knowledge assets that they own and the capabilities of their organisation or company and staff to utilize theses assets. Thus, knowledge can be called a resource which could be acquired, exploited and applied to achieve success and advantage for the company (Zack, 2003). However, companies that fail to manage the knowledge it has might surely be losing its capabilities, potential and brains (Denford, J. S., & Chan, Y. E., 2011). The benefits that knowledge management offers ranges from promotion and elevation of unequivocal knowledge to attain efficiency and innovation in various business practices (Durrant...
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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. Three distinctive approaches to knowledge management at Toyota The automobile industry is one that is very competitive, one method of increasing market share is by staying ahead of competition through exploitation of new knowledge to deliver more efficient processes or products (Chaston, 2004). Focusing on “ The Toyota Way” case study, three distinctive approaches have been discussed below; Metanational Company; . Toyota’s attitude of learning local and acting global describes the true meaning of being a metanational organization. Through this Toyota is able to understand local needs and wants and keep strong relationships with local suppliers to sustain competitive advantages. A Metanational describes firms that creates advantages on a worldwide scale instead of being limited to the “Home-Country” (Doz et al,1997).Such organizations understand the advantages of learning from different industries and keeping relationships with suppliers strong to sustain competitive advantage. The recession, the maturity of the Japanese industry and the opportunity in emergent markets has all contributed to the creation of Toyota as a metanational organization. The essence of this manifestation is its ability in accessing, melding, and leveraging distant capabilities and market knowledge Doz et al, 1997). Additionally Doz et al (1997) explain that in most companies important knowledge resides in the workplace; factory floors, within sales etc. Therefor by employing local talents to...
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...Emerging role of Knowledge Management with special reference to educational sector Chitranshi Verma Research Scholar & Faculty in Centre of Management Studies, G.S.College of Commerce & Economics,Jabalpur(chitranshi.verma@gmail.com) Purpose of the study: To find the effective use of new concepts like knowledge management in the education sector. Research Methodology: The study on this topic would mainly be conducted through the available secondary data. Globalization has brought in new opportunities to developing countries. Greater access to developed country markets and technology transfer hold out promises for improved productivity & higher living standards. It is a very positive force that has lifted the developing countries. With its advent various new concepts have emerged, one of them is knowledge management. Introduction- Knowledge Management (KM) comprises a range of strategies and practices used in an organization to identify, create, represent, distribute, and enable adoption of insights and experiences. Such insights and experiences comprise knowledge, either embodied in individuals or embedded in organizational processes or practice. Knowledge management is the process of transforming information and intellectual...
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...Corporate 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...
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...important information through strategic information systems in order to educate them the process of making decisions. This report will critically evaluate the importance of how the information systems generate value in the organizations by introducing the nature of information system, defining the concept of information systems and the change that may happened. This report will also identify the solution of change and the strategies that used to generate value in the organization. The following will discuss more details. 2. Nature of information system: 2.1 Nature of information: Diagram 1: Source ( Stair and Reynolds ,2013) As the diagram 1 shows, the information is transformed from data which consists of raw facts and the knowledge is required to support a specific task in order to processed the data into useful information. However, it is of vital importance for organizations to identify and leverage quality information (Hussain, 2008). It is because valuable information not only can help decision makers achieve their goals, but also help people in their organizations perform tasks more efficiently and effectively . In terms of characteristics of quality information, Stair and Reynolds (2013) identified eleven characteristics of quality information: complete, timely, secure, accurate, flexible, reliability, verifiable, simple, relevant, economical and accessible. 2.2 Introduction of information system: In organizations, information comes...
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...40 Teachers. It is located in Wellawatte, Sri Lanka. The School is following the Management Information System. The students are taught all subjects in English; they include: Language Arts, Math’s, Science, Music, PE, Commerce, Accounting, Economics and Art. The school provides many facilities and activities for the students and in addition to a good all round education. SWOT Analysis 1.1 The School management is clearly segmented into three distinct layers. These layers are: top management, middle management and lower management. Management layers are shown below: Top Management Level Head Principal The Head Principal of the school is responsible for most areas of the school operations. The Head Principal also publicly represents the school; mediate conflicts among staff, students, parents, and community members. Vice principal The Vice Principal of the school assists the Head Principal to guide behavior management, budgeting, staff supervision, curriculum, and other areas. Middle Management Level Teachers Everyday students are subjected to a range of decisions made by teachers about grading, curriculum, behavior management, and relationships with students. Teachers are also responsible for executing others decisions. Accountant The Accountant of the school is responsible for all transactions taken place within the school. Lower Management Level Security Guard The Security Guard is on duty at the Main Gate of the school from...
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...July - December 2001 KNOWLEDGE MANAGEMENT A NECESSITY IN NEW MILLENNIUM V.K. Singh NOWLEDGE Management (KM) is now an established discipline that comprises activities focused on a formalised, integrated approach to managing an enterprise’s tangible and intangible information assets, which include knowledge experience and expertise or enterprise knowledge. It addresses the issues of adoption, survival and competence of an organization through synergistic combination of data and information processing capacity. Knowledge Management moves from academic theory to organizational practice, there is a need for clarity on the subject of knowledge and its place in the spectrum of strategic initiatives. The paper focuses on the Macro approach, initiating with the different dimensions of Knowledge Management, purpose of Knowledge Management or what is called managing knowledge for a purpose. K Introduction The emergency of global economy and global trade market has transformed the world into one massive business community. The expression “global village” is no longer a contradiction in terms. It is a reality and credit goes to the emerging information technology. Having missed the full impact of the industrial revolution as a result of more than two centuries of colonization, India is overtaken by the information revolution. Today we live in a society in which information is an essential resource and where knowledge is valuable. Knowledge Management (KM) is now an established...
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...Knowledge Management (KM) refers to practices used by organizations to find, create, and distribute knowledge for reuse, awareness, and learning across the organization. Knowledge Management programs are typically tied to organizational objectives and are intended to lead to the achievement of specific outcomes such as shared intelligence, improved performance, or higher levels of innovation. Role of knowledge management The goal of Knowledge Management is not to capture all knowledge, but rather manage the knowledge that is most important to the organization. It involves applying the collective knowledge and abilities of the entire workforce to achieve specific organizational objectives. * Increases customer service-responding to customer’s faster with more relevant and complete information gains sales and retains clients. * Compliance with regulations- effective knowledge management will reduce the cost of audits and assist in complying with regulations such as health and safety. * Reducing administration labour cost-less movement of information around and outside the company saves staff time and cost of labour. * Better collaboration- projects requiring content and information from different departments and external parties benefit from easy access allows greater team work and competition. * Reduce wastage of time and mistake-Access to constantly updated information from an easy to locate source prevents repetition of work on out of dated documents...
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...Instructor: Date: Knowledge management Knowledge management is not a technology but a process that involves obtaining, generating, distributing and efficiently exploiting corporate information. In the present day, companies are no longer valued in terms of physical assets or revenue streams. In the contemporary business world, corporate bodies are valued based on the intellectual capital within the firm. Those who have knowledge in a company use technology to harness, analyze, develop and use information. Hence without knowledge in an organization it would be difficult to run activities within. In respect to the rapidly advancing technology, knowledge management has improved to match the rapidity of technology. Knowledge management has played a significant role in making the operations of organizations more efficient. For example, when organizations are faced with tough technological times, new partnerships and legislative regulation, the knowledge management provide support in terms of technology as well as the transfer of knowledge. In respect to capacity management issues, cost control and the environment, the knowledge management plans, and processes the innovation of technique. It has been undeniable been proven that knowledge management enhances the valuation in the stock markets and provide support in terms of growth and production of good quality products. It also inspires intellectual management for obstinate early adopters. Knowledge management is appropriate for...
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