1. What are the main characteristics of E-Land’s knowledge management?
As you can see from Fig.1)KM model, by constructing the cycle which integrates performance management, knowledge management and learning organizations, BSC process is used as the Knowledge Management tool. This structure creatively applies structural characteristics of BSC to Knowledge Management and is expected to systematically raise knowledge workers’ productivity. KM formed the cornerstone of E-Land Group’s operational excellence strategy. Following four reasons are
① Capturing and sharing best practices: The Chief Knowledge Officer’s team created an integrated KM/performance management structure. Key components included tools and processes for capturing and
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It was originated by Drs. Robert Kaplan (HBS) and David Norton as a performance measurement framework that added strategic non-financial performance measures to traditional financial metrics to give managers and executives a more 'balanced' view of organizational performance. The balanced scorecard has evolved from its early use as a simple performance measurement framework to a full strategic planning and management system. The “new” balanced scorecard transforms an organization’s strategic plan from an attractive but passive document into the "marching orders" for the organization on a daily basis. BSC provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. The BSC suggests that we view the organization from four perspectives, and to develop metrics, collect data and analyze it relative to each of these perspectives:
2008 Spring KAIST Graduate School of Management
[MGT 542E] Management Information System, Prof. Lee, Hee Seok
[Why is KM integrated with BSC at E-land?]
E-Land utilizes the feedback process of BSC for a strategy-centered organization, i.e. a learning organization, to make all employees experience success through the strategy and then grow. A
A balanced scorecard is the comprehensive collection of ongoing activities and processes that organizations use to systematically coordinate and align resources and actions with mission, vision and strategy throughout an organization making it a strategic planning and management system. (Balanced Scorecard Institute, 1998-2010). The scorecard exposes financial, customer, employee learning and growth, and internal business process objectives crucial to attaining goals of the vision and mission statements. When establishing such objectives, an evaluation of the company’s vision statement, mission statement, and furthermore, core values is
The balanced scorecard was first identified by Kaplan and Norton in 1990 as a management tool to help management to summarize the key factors to conduct a successful business, and to align the whole business operations according to the overall business strategies. Then, in the following year, they implemented the balanced scorecard in various companies to conduct the study, and it appeared that the balanced scorecard was the key to drive the performance in the companies. It provided the management all the necessary strategic information by emphasizing enablers over results and changing strategic management paradigms.
"Knowledge management is the set of practices aimed at discovering and harnessing an organization 's intellectual resources. It 's about finding, unlocking, sharing, and altogether capitalizing on the most precious resources of an organization: people 's expertise, skills, wisdom, and relationships. Knowledge managers find these human assets, help people collaborate and learn, help people generate new ideas, and harness those ideas into successful innovations" (Bateman, 2004, p.8-9). One of the most important factors of change in management is the growing need for good, new ideas. Knowledge management is an approach that allows people to produce change. It 's bringing people together and collecting ideas from
Organisational learning can be seen as the goal of knowledge management and may be obtained by good knowledge management strategies and processes. By motivating the creation, dissemination and application of knowledge, KM initiatives pay off by helping the organization embed knowledge into organisational processes so that it can continuously improve its practices and behaviours and pursue the achievement of its goals.
At the initial part of the discussion paper, it will discuss the contemporary knowledge management issue in ACBP. In the second part, the paper will discuss a number of KMS components with the aim of addressing knowledge management issues in ACBP. The paper will be concluded providing some recommendations to resolve the raised
The Balanced Scorecard is a strategic planning and management system used to align business activities to the vision and strategy of the organization by monitoring performance against strategic goals. It is used extensively in business and industry, government and non-profit organizations worldwide to provide a
The Balanced Scorecard comprises of a set of measurements that track financial measures that ultimately boost financial performance (Kaplan 1993). Kaplan (1993) introduced the BSC as a tool to address the ‘inability to link a company’s long-term strategy with its short-term financial goals’. The BSC bridges this gap and helps develop a comprehensive understanding of which areas they must change for the better through four key perspectives (Kaplan 2007).
A balanced scorecard can be thought of as a strategic management tool, which the management of various organizations can use to monitor how the activities of employees affect the related operations. The origin of the concept can be traced back to the 1990s when Robert Kaplan and David Norton developed and published the idea in Harvard review journal. It can transform a company’s mission and vision into objectives, which can be quantified and measured. Therefore, it can quantify financial performance, the performance of business processes in the market, innovation performance, and employee performance among others. This tool can further be defined by two characteristics. Firstly, it focuses on organizations ' main agenda. Secondly, it uses a small number of data to measure various processes. This paper seeks to determine the ideal inputs for the four major elements of the Balanced Scorecard.
The Balanced Scorecard (BSC) was created by Kaplan and Norton (1992) as a strategic management system to assist
Knowledge management (KM) can also be defined simply as doing what is needed to get the most out of knowledge resources.
Journal of Knowledge Management Volume 4 . Number 3 . 2000 . pp. 204±216 # MCB University Press . ISSN 1367-3270
“The Balanced Scorecard translates a company's vision and strategy into a coherent set of performance measures” which was defined by Robert S. Kaplan, David P. Norton (1996).
Other serious barriers to the success of KM initiatives include the intangible element associated with knowledge (e.g., “managing stuff in people’s heads”), and the nature of organizational learning. A lack of clarity about the depth of KM processes can also encumber KM initiatives.
The concept of knowledge management (KM) was introduced early in 1990s, which include business administration, public policy, information systems management, library and information sciences. Knowledge Management became popular in the 1995 with the publication of The Knowledge- Creating Company written by Nonaka and Takeuchi.
The research has shown that use of knowledge management can help in understanding the performance in the organizations and (Davenport and Prusak, 1998). Other more recent studies like done by Fugate et al. (2008) and Huang and Chen (2009) also have talked on the importance of knowledge management systems and their positive effect on organizational performance.