Assignment - Knowledge Management

This chapter describes what is knowledge management in details as well as what is the factors of implementing knowledge management which are implementing best practices, network expansion, systematic information system infrastructure, good organizational culture, senior management leadership and commitment and trustworthiness of teamwork.

Bob Buckman is 5thCEO of Buckman Lab’s and he created a department – Knowledge Transfer Department and built a knowledge transfer system- K,Netix to minimize the gap between department and department and prevent knowledge distortion .

Through our examination of Hislop (2013) and other supporting material during this class, we have discovered the characteristics and nature of knowledge management strategy. Using my organization as a back drop it has become clear the one does not merely undertake a knowledge management program and expect success. Instead, it requires a thorough examination of the organization, essential knowledge, key roles, policies, politics, available technology

This chapter reviews the related literature on knowledge management. It is divided into five main sections. The first section presents conceptual framework for the study elucidating key concepts of the study. The second section discusses the theoretical framework where key theories informing the study are discussed. In this section knowledge management theories and models are discussed and linked to the study. Section three reviews a critical review of the existing literature on the subject of knowledge management. In this section empirical studies are interrogated and critiqued to identify important variables which are relevant in this study. The current international knowledge coordination systems and knowledge management best practices will be evaluated. The literature review ends with a discussion of knowledge management critical success factors (knowledge enablers) related to the objectives of this study. The need for top management commitment in knowledge management processes is examined. The effect of organizational

The superior capabilities of knowledge management systems provide an opportunity for the business to engage the most effective components and recognize the importance of communication to make informed, accurate decisions (McGrath, 2001). This system can organize the company’s knowledge resources, knowledge obtaining, organizing, and applying to make a sound routine the will enforce effectiveness (Niu, 2008). The dynamic function of knowledge management to create, capture, and apply knowledge to achieve an organization’s objective will allow them to be more profitable and successful (Zucker, 1986). In addition to increasing profits, the system can be also used to reduce costs and enhance research and development (DeTienne & Jackson, 2001). With all of these advantages, it would be wasteful for a company to not employ knowledge management. As seen in the Discovery Communications, Inc. example, the company can attribute their new productivity levels and increase in ease of securing documents to the knowledge management system that put into place by Carefree Technology. Like Discovery Communications, Inc., knowledge management is so popular today because companies can collect, process and share knowledge to ignite employees ' creativity which in turn will make the business grow. Wenhong and Jianhua (2009) explained the core of knowledge management is to convert company’s knowledge resources into an increased company

These strategies would ensure that employees are retained long enough so that the new knowledge gained from training and development is passed on to others in the organization, and therefore become “owned knowledge” by the organization.

Training transfer means that learners are able to “transfer” their knowledge and skills learned in a training session back to their jobs. The importance of training transfer cannot be overemphasized. Organizations spend billions of dollars each year on training, yet only a fraction of that investment results in improved performance if training transfer is not supported by stakeholders (i.e. any individual or group that has a “stake” in the transfer of training). These include managers, peers, customers and the employer. Stakeholders also assume responsibility for supporting transfer.The goal of training is not simply to gain knowledge and skills, but to transfer learning into performance, which in turn leads to improvements in agency results. Training transfer is not an event; it is a dynamic and complex process that requires planning. The use of effective transfer of training principles can help maximize the effectiveness of training

The literature has been unable to agree on a definition or the concepts behind KM (Bhatt, 2001; Hlupic, et al., 2002; Neef, 1999). For instance, Snowden (1998) defines KM as the identification, optimization and active management of intellectual assets, either in the form of explicit knowledge held in artifacts or tacit knowledge possessed by individuals or communities; Hedlund (1994) suggests that KM addresses the generation, representation, storage, transfer, transformation, application, embedding, and protecting of organizational knowledge; Brooking (1997) suggests that KM is the activity which is concerned with strategy and tactics to manage human centered assets; De Jarnet (1996) defines KM as knowledge creation, which is followed by knowledge

With the benefit of hindsight, it is apparent that in the knowledge era, creating and leveraging knowledge is the business of business. By all available measures, the stock market is already providing handsome rewards to companies that successfully leverage their knowledge--a phenomenon that will almost surely grow in significance as knowledge-based organizations increase in size and number. A number of firms are anticipating this and looking to knowledge management to enhance, measure, and manage the knowledge of their employees and organizations more effectively.

Knowledge management in the healthcare domain may be regarded as an integration of formal techniques and methods in order to ease the utilization, dissemination, preservation, development, identification, acquisition and creation of the diverse aspects of the knowledge assets of the healthcare organization (Bordoloi & Islam, 2012). Delivery of excellent healthcare services requires optimal knowledge management and thereby having an established knowledge management process aids to enhance the process performance. Past studies analyzing the importance of knowledge management in healthcare depict that this process is far more complicated in the healthcare domain. This is mainly as a result of diverse perspectives on knowledge

They promote dialogues to exchange knowledge and gain new perspectives. They allow employees to learn from experience, trial by error. They involve employee’s opinions in all important business decisions.

Since the mid-1990s, knowledge management has become increasingly significant for business managers and companies. ‘It is broadly accepted that systematic knowledge management is tightly linked with gaining and sustaining competitive advantage.’ (Bogner & Bansal, 2007, p658-6 as cited in Hislop, 2009, p1) The definition of knowledge management is various because of the wide range of this concept and its complexity (Al-Hawamdeh, 2003). For example, the broad definition provided by McAdam and McCreedy (2000, p155 as cited in Hislop 2009, p53) note that: ‘KM relates to the management of anything classified as knowledge’ Furthermore, Hislop (2009, p59)

Knowledge Management can make a significant difference between ongoing or successful ventures of any organization in a world of accelerating change. Knowledge Management provides the ability to connect and cooperate complex ideas efficiently and can be beneficial even to expand when using strategic alliances. To make Knowledge Management work in an

3. It enables staff to control their own operations, thereby reducing firefighting and freeing managers from constant intervention business operations. This will help to create quality awareness and satisfaction among employees.

A technologic approach to Knowledge Management has a much higher initial cost, is inherently more scalable, and can handle a much greater transaction volume than an unassisted knowledge worker. Technology in support of Knowledge Management isn’t necessary or even optimal in every instance. Technologies supportive of Knowledge Management can be applied successfully to organizations of any size; extensive investments in technology are generally practical only in medium-size to large companies. Perhaps the most significant way technology enables the KM process is that it can provide virtual meeting space for communities of practice.